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anduramba molybdenum project update

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    Anduramba Molybdenum Project Update
     
    Highlights: 
    Pre‐feasibility  review  is  complete  and  proposed  financing  and  development  schedule finalised for the Anduramba Project located 150km west of Brisbane, Qld, Australia. 
    Pre‐feasibility review indicates an 11 year, 2 to 3mtpa conventional molybdenum sulphide 
    mine delivering a 2.5 year payback of A$86M Capital cost and an NPV of A$235M with an 
    IRR of 48.5%. 
    Definitive Feasibility Study (DFS) is scheduled to commence November 2008. 
    Preliminary testwork has identified the potential to produce up to 1.33mtpa of industrial 
    grade silica feldspar sand as a by‐product sold into SE Qld industrial developments.  
    Metallurgical testwork is due to be completed by mid November 2008. 
    Hydrogeology water supply study stage 1 has been completed. Stage 2 has commenced. 
    Mining Lease application in preparation. 
    Mineralogical studies and environmental tests have been completed.
 
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