Platina Resources (ASX:PGM) has been granted an ASX trading halt in relation to the Scoping Study for the company’s Owendale Project in central New South Wales.
The halt will remain in place until the earlier of the announcement being made or the start of trade on Tuesday, 17th March 2015.
Ownedale has a current resource of 520,000 ounces of platinum and 9,100 tonnes of scandium.
In January, the company completed hydrometallurgical testwork, a major part of the Scoping Study.
This returned excellent extraction of scandium (>85%), platinum (>80%) nickel (>95%) and cobalt (>99%) from High Pressure Acid Leach tests.
Platina has a heads of agreement with Chinese manufacturer Hunan Oriental Scandium Co. Ltd (HNOSC) to negotiate an offtake agreement and a supply, technology, processing and marketing agreement.
This includes an offtake agreement for the supply of 5 tonnes per annum of scandium oxide to HNOSC.
The company already has an agreement with Inner Mongolia Honfine Zirconium Industry Co Ltd for the proposed supply of 15 tonnes of scandium oxide per annum.
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