EXPLORATION & DEVELOPMENT

Triton trims Ancuabe costs further

Traditional outsourcing methods could save one quarter of pilot plant costs

Ancuabe is on the fast-track to development

Ancuabe is on the fast-track to development

Its focus since refreshing its funding in September has been to improve the project's metrics while tamping down development costs.
 
It has just flagged a further US$7 million in savings by using "traditional outsourcing methods" for its commercial pilot plant.
 
That's a potential saving of 13-22% on its initial funding requirement based on funding requirements estimated at $32-52 million, Triton said.
 
The company is working with CPC Project Design to refine its pilot plant cost modelling, and says savings identified include using third party contractors and service providers, including built-own-operate-transfer options, and leasing key equipment such as crushing and power supplies.
 
The pilot plant is designed at a nameplate 250,000 tonnes per annum, and would be expected to produce 15,000-17,000tpa of graphite concentrate, with sales targeted to offtake partners in China.
 
The company continues to engage with debt providers, as it finalises a strategic review this quarter.
 
A definitive feasibility study and final investment decision are targeted by mid-year, with first production in the September quarter of 2023.
 
The smaller scale strategy aims to get product to market as quickly as possible, ultimately supporting a scale-up to 60,000tpa of high-purity large flake graphite concentrate over almost 30 years.
 
A 2017 definitive feasibility study estimated some $85 million would be required for the full development.
 
A new management team under executive director Andrew Frazer came in came in last year, and oversaw a A$9.8 million raising at 4.1c.
 
Triton's stock has ranged at 3-6.4c over the past year, and its shares were up 3% in early trade to 3.5c this morning, valuing it at $42 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.