The company achieved a major breakthrough last month by producing its first greater than 99.99% aluminium oxide high purity alumina (4N HPA) using feedstock from the project.
King River will initially scale the SSM project to HPA production, with vanadium pentoxide, titanium dioxide and iron oxide as co-products at a later stage - but not part of the PFS.
This should significantly reduce the size of the project, with the potential to reduce the capex and maximise returns.
Test work continues
Further hydrometallurgical work has continued, with the HPA PFS to be finalised on completion of the following tests, including:
- Repeating the 4N HPA product test on a larger sample to provide additional product for verification analyses;
- An independent umpire assay of the 4N HPA result;
- New equipment trials to increase the calcination temperature to ensure the HPA phase is all alpha-alumina;
- Confirm the HPA is 100% alpha-alumina by an X-Ray Diffraction (XRD) analysis; and
- Increase the Stage 2 purification efficiency.
PFS release pending
In addition, the CSA Global mining study and Como Engineers plant and infrastructure design and costings are largely completed waiting on final model validation and review.
The company aims to release the PFS as soon as practicable on completion of these remaining outcomes.
KRR shares have been as much as 16% higher to 5.8 cents intra-day.