A struggling resources operation could reopen if everything goes to plan.
Administrators recently revealed $73 million would be sufficient to restart Wiluna mine, 530km north of Kalgoorlie.
Wiluna Mining Corporation is conducting a strategic review into different acquisition, funding and recapitalisation options to help reopen the mine.
If successful the proponent will raise $73M, which will cover the cost of producing 750 kilo tonnes per annum of ore for processing with an estimated 9.5-year mine lifespan. The existing BIOX processing facility will be refurbished and both the tailings thickener and camp upgraded.
An open pit mine will initially feed processing circuits and later transition to underground mining. Tailings mining and tailings re-treatment through the Wiltails repulper will continue.
“A very significant investment (in excess of $100M) has been made in Wiluna’s recent past in rehabilitating and developing the underground accesses, extension drilling and construction and commissioned a new flotation circuit. Our next step is to seek parties who are interested in Wiluna’s potential, as demonstrated by this pre-feasibility study, and the additional upside opportunities possible should larger amounts of capital be available and deployed,” FTI Consulting senior managing director Mike Ryan said in a public statement.
Click here to read the full feasibility study.
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