Prescient presentation - Petmin
Prescient presentation - Petmin
Prescient presentation - Petmin
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NAIC<br />
39<br />
Metallurgy<br />
• Ore dressing studies continue to be carried out by Dr Jayson Ripke and<br />
Glenn Hoffman of Cardero Resources.<br />
• During the period a Wet High Intensity Magnetic Separator (WHIMS) was<br />
purchased and further testwork has begun using this unit.<br />
• Metallurgical testing has indicated that an adequate concentrate can be<br />
produced using just magnetic separation but this requires further<br />
optimisation.<br />
• Some optimisation has been achieved via the screening of the<br />
concentrate post magnetic separation but further work is required for<br />
production plant optimisation.<br />
• Tenova has been engaged to carry out a conceptual study on the pig iron<br />
production plant – proposal has been received.<br />
Environmental / Community<br />
• Some delays were experienced due to tree cutting on some of the claims<br />
and due to the environmental registration process that was triggered for<br />
the bulk sample.<br />
• Stantec have been engaged to run the permitting process for the bulk<br />
sample as well as to carry out a scoping study for the whole project.<br />
• The Innu Nation hold a land claim to our property and own 5% of Grand<br />
River shares.<br />
Pilot Plant<br />
• Objective of the pilot plant is to produce 200t of concentrate for a<br />
continuous melt test.<br />
• All equipment has been detailed (Process flowsheet engineering,<br />
equipment sizing and specifications).<br />
• An RFQ was sent out, on the basis of responses the ordering has begun.<br />
• Expectations are to operate the pilot plant during February 2012 and<br />
March 2012.<br />
• Negotiations are underway for access to furnace facilities to conduct the<br />
melt test.<br />
• Current cost estimates for the pilot plant are $650 000 – higher than the<br />
budget of $400 000. NAIC has applied for 50% of the costs to be paid by<br />
the Atlantic Canada Opportunity Agency (ACOA). Awaiting feedback.<br />
Location<br />
• Location remains a big advantage of the project.<br />
• Close proximity to a port has given the project options to produce a<br />
concentrate in Goose Bay but locate the smelter in other regions.<br />
• Erie, Pennsylvania, Quebec & Louisiana have all shown a significant<br />
interest in locating the project in<br />
their jurisdictions.<br />
• Each of these have indicated the<br />
potential for low electricity rates,<br />
soft loans and tax holidays for the<br />
project.<br />
• Potential loan financing of up to<br />
50% of the smelter CAPEX on soft<br />
repayment terms.<br />
…Committed …A PLATFORM to growth, FOR dedicated GROWTH to value