Platina Resources Limited (ASX:PGM) Quarterly Activities Report
29.10.2014 | ABN Newswire
Brisbane, Australia (ABN Newswire) - 2014 Quarterly Activities Report on Platina Resources Ltd.'s (ASX:PGM) (OTCMKTS:PTNUF) 100%-owned Owendale Platinum, Scandium, Nickel and Cobalt Project in Australia.Highlights
OWENDALE
- Negotiations commence on draft offtake and processing Agreements recently prepared.
- Second Heads of Agreement signed for the proposed supply (under an Off-take Agreement) of 5 tonnes per annum of scandium oxide.
- Preliminary metallurgical testwork for recovery of platinum and scandium completed.
DECEMBER 2014 QUARTER PLANS
- Platina to finalise Offtake and Supply, Technology, Processing and Marketing Agreements with Honfine and Hunan Oriental Scandium Co. Ltd.
- Scoping and Feasibility Study timetable to be prepared for the potential production of scandium.
- Fund Raising activities to be finalised for future Feasibility Studies and general operations.
SUMMARY
During the quarter, the Company signed a Heads of Agreement (HoA) with Chinese manufacturer Hunan Oriental Scandium Co. Ltd (HNOSC) to negotiate an Off-take Agreement and a Supply, Technology, Processing and Marketing Agreement. Under the terms of the HoA, Platina and HNOSC will negotiate an Off-take Agreement for the supply of 5 tonnes per annum of scandium oxide at a 99.9% purity grade and at a commercially acceptable price. The HoA with HNOSC is the second agreement which the Company has concluded with a Chinese scandium producer and processor. During the quarter, several new discussions were carried out with scandium processors around the world, and valuable information is being collected on the future demands and uses for scandium-aluminium alloy and scandium oxide. In addition, the HoA with Honfine was extended until 31 December 2014 to allow for negotiations to continue whilst the Company arranges commencement of Scoping and Feasibility Studies.
To view the report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-PGM-825554.pdf
About Platina Resources Limited:
Platina Resources Ltd. (ASX:PGM) (OTCMKTS:PTNUF) has a global portfolio of Platinum Group Metal (PGM), gold and scandium projects, with a core focus on the development of two key advanced assets – the Skaergaard PGM-Gold Project in Greenland and the Owendale Platinum and Scandium Project near Fifield, NSW, Australia.
Source:
Platina Resources Ltd.
Contact:
Platina Resources Ltd.
T: +61-7-5580-9094
F: +61-7-5580-9394
WWW: www.platinaresources.com.au
