Metals X lowers tin concentrate output forecast at Renison project
2019-12-19 10:45:44 [Print]
Australia's Metals X Limited has lowered the production expectations at its 50%-held Renison tin project, in Tasmania.
The miner on Wednesday said that production of tin concentrate is now expected to reach between 7,000t and 7,400t in the 2019/20 financial year, down from the previous estimate of 8,000t to 8,500t.
Furthermore, all-in sustaining costs for this period are also expected to increase to between A$18,200/t and A$19,100/t, up from the previous guidance of between A$17,000/t and A$17,500/t.
The lower output and higher costs are attributed to lower ore grades from the Lower Federal area, and delayed stoping from Area 5, Metals X said.
An optimization study for Area 5 is progressing with geotechnical, mine design, ventilation and backfill studies well progressed in conjunction with life-of-mine evaluation across the whole operation. The completion of the study is planned for March next year, and will provide detailed input in the life-of-mine schedule, allowing for production guidance for the subsequent years, Metals X said.
A metallurgical improvement program is also progressing, with improvements in metallurgical recovery being reported.
The miner on Wednesday said that production of tin concentrate is now expected to reach between 7,000t and 7,400t in the 2019/20 financial year, down from the previous estimate of 8,000t to 8,500t.
Furthermore, all-in sustaining costs for this period are also expected to increase to between A$18,200/t and A$19,100/t, up from the previous guidance of between A$17,000/t and A$17,500/t.
The lower output and higher costs are attributed to lower ore grades from the Lower Federal area, and delayed stoping from Area 5, Metals X said.
An optimization study for Area 5 is progressing with geotechnical, mine design, ventilation and backfill studies well progressed in conjunction with life-of-mine evaluation across the whole operation. The completion of the study is planned for March next year, and will provide detailed input in the life-of-mine schedule, allowing for production guidance for the subsequent years, Metals X said.
A metallurgical improvement program is also progressing, with improvements in metallurgical recovery being reported.