CTM’s latest pilot level metallurgical results indicate a premium grade (34%) nickel concentrate can be produced from Jaguar project ore. The product was produced with maintenance of a 70% recovery whilst also managing to suppress deleterious bearing minerals containing zinc and fluorine. This premium product should yield both cost and metal payability benefits making it highly attractive to downstream customers. We expect this news to will lead to improved interest by parties involved in the strategic partnering and financing process currently underway for development of Jaguar. Work also continues towards Jaguar Value Engineering Process (JVEP) studies with revisions of layout and mine design/scheduling expected to yield life-of-mine capital cost savings. We anticipate outcomes of the JVEP will be released prior to the end of the March quarter.
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