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Pure Minerals in trading halt with capital raising announcement pending

Pilot plant work by ALS Global is progressing well and the company has formed a pilot project management team to monitor progress.

Pure Minerals is focused on developing a modern battery metals refinery in northern Queensland
Pure Minerals focused on developing a modern battery metals refinery in northern Queensland

Pure Minerals Ltd (ASX:PM1) has been granted a trading halt by the ASX with a capital raising announcement pending  

The halt will remain in place until the beginning of trade on Monday, September 21, or when an announcement is released to the market, whichever occurs earliest.

Tech Project advancement  

Pure Minerals subsidiary Queensland Pacific Metals Pty Ltd (QPM) has been making steady progress with the TECH Project aimed at establishing a value-adding metals processing facility in the Queensland city of Townsville.

Pilot plant activities are progressing as planned at ALS Global Hydrometallurgy Centre of Excellence in Perth with final pilot plant flowsheet details agreed and assembly underway.

A pilot project management team comprising representatives from ALS Global, CSIRO, Direct Nickel and QPM has been established and the team is holding weekly meetings to monitor progress.

Further progress has come by way of an iron collaboration with Sun Metals, a wholly-owned subsidiary of Korea Zinc, to undertake agglomeration work on a haematite by-product.

Quick facts: Queensland Pacific Metals Ltd

Price: 0.091 AUD

ASX:QPM
Market: ASX
Market Cap: $84.9 m
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Queensland Pacific Metals to significantly increase scale of its TECH Project

Queensland Pacific Metals Ltd's (ASX:QPM) (FRA:4EA) Stephen Grocott speaks to Proactive's Andrew Scott following the news they've committed to increasing the scale of the TECH Project in Townsville, Queensland, by at least two times from what was originally contemplated in the...

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