King River Resources Ltd (ASX:KRR) is aiming to complete the pre-feasibility study (PFS) for its Speewah Specialty Metals (SMM) Project and then evaluate market conditions before accelerating towards completion of a definitive feasibility study.
The company is now focused on the safety of its employees, directors, consultants, contractors and advisors with office attendance and face to face meetings curtailed given the social distancing measures.
In a recent update to investors, chairman Anthony Barton told investors that with the SMM Project being in the PFS development stage, the company can work remotely with consultants, laboratories and advisors and for the time being there has been little impact on productivity.
“However, this may change as laboratories and corporations introduce stricter protocols to protect their staff.
“As our exploration assets are in northern Australia, which is currently experiencing the wet season, there has been no field activities and none are planned until the government provides further advice on the pandemic and movements in Australia.”
Four key areas of focus
He said the current focus with PFS remains on four areas, each of which is progressing well:
- Metallurgy and Process Flowsheet Development;
- Process Plant Design and Costings;
- Mining Study and Reserve Estimate; and
- Environmental, Social and Permitting Study.
Barton said each of these four activities is critical for completion of the PFS and is well advanced.
“Our plan remains to complete the PFS and then evaluate market conditions before accelerating toward completion of a definitive feasibility study.
“While uncertainly exists with respect to the duration of the current economic slowdown, it is clear that the future is bright for the HPA business.”