Jervois Mining: Purchase of Equipment for Nico Young Cobalt-Nickel project
TSX VENTURE: JRV
Hawthorn Victoria / April 11, 2018 / JMN Wire / Jervois Mining Limited (ASX: JRV) (“Jervois” or “the Company”) is pleased to advise it has entered into a purchase agreement for second-hand heap leach equipment from Fox Resources to accelerate the development of its 100%-owned Nico Young Cobalt-Nickel project in New South Wales, Australia.
By fast-tracking development at Nico Young, Jervois is exceptionally well placed to meet the growing demand for raw materials for lithium ion cathodes.
- Purchase agreement for 400TPH heap leach agglomerator, stacker and conveying infrastructure from Fox Resources for A$0.5 million plus GST
- Enables accelerated introduction of commercial scale heaps at Nico Young, New South Wales, Australia
- Represents a significant capital saving (similar new equipment estimated at A$10 million)
- Nominal capacity of equipment is significantly in excess of 1.0Mtpa ore, providing an opportunity to increase headline production and accelerate initial ramp up via overstacking of heap pads