PM1 0.00% 1.6¢ pure minerals limited

Ann: Lycopodium Appointed as Lead Engineer for PFS, page-2

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    Seem confident , shareholders sitting watching paint dry for a long time now may actually see some renewed interest back in the stock price .

    Lycopodium Appointed as Lead Engineer for Pre-Feasibility Study Highlights
    • Queensland Pacific Metals Pty Ltd has appointed Lycopodium as the Lead Engineering Company to undertake the Pre-Feasibility Study for its planned 600ktpa battery materials refinery in Townsville
    • The project has been named Townsville Energy Chemicals Hub, representative of the goal to produce chemicals (nickel and cobalt sulphate) required for the emerging battery energy storage sector
    • Lycopodium is a highly regarded engineering company and has been very active in the battery metals space, having undertaken a wide range of studies for projects involving nickel, cobalt, lithium and graphite
    • Lycopodium has previously completed an engineering study for Direct Nickel Pty Ltd in relation to a processing plant utilising the DNi ProcessTM

    QPM will immediately commence the Pre-Feasibility Study (“PFS”) for the TECH Project, a 600ktpa battery materials refinery producing approximately 25,000tpa of nickel sulphate and 3,000tpa of cobalt sulphate and other valuable co-products.

    The key work package for the PFS is the engineering relating to the TECH Project. A competitive tender process was run by QPM, resulting in the appointment of Lycopodium as Lead Engineer. Lycopodium is a highly regarded engineering company with excellent experience applicable to the TECH Project:
    • Highly active in the battery metals space, having undertaken many feasibility studies for clients in nickel, cobalt, lithium and graphite; • Completed a feasibility study for Direct Nickel Projects Pty Ltd for a nominal processing plant utilising the DNi ProcessTM, which the TECH Project will be utilising; and
    • Completed feasibility studies for other nickel projects incorporating downstream processing to produce battery chemicals including BHP’s Nickel West project and Cleanteq’s Sunrise project. The key responsibilities for Lycopodium under its contract with QPM are:
    • Process, process services and utilities design and engineering
    • Preparation of project capital and operating cost estimates • Compilation of the PFS report, including integration of studies relating to other work packages Lycopodium has also agreed to accept shares in PM1 as consideration for approximately 20% of its estimated fees, demonstrating Lycopodium’s belief in the TECH Project. The PFS is expected to be completed in the September quarter of 2019.
    Lycopodium Minerals Managing Director Rod Leonard commented: “We are pleased to have been appointed to complete the key engineering work packages for the TECH Project Pre-Feasibility Study. The outlook for battery metals is positive and Lycopodium is well positioned to carry out this body of work, having completed a wide range of studies for major, mid-tier and junior clients in this space.”
    Last edited by MajorJohnny: 17/05/19
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