THE BOURSE WHISPERER: Tiger Resources (ASX: TGS) informed the market that the solvent-extraction and electro-winning (SXEW) plant at the company’s Kipoi copper project in the Democratic Republic of Congo (DRC) has achieved nameplate production of copper cathode.
Tiger said it reached nameplate production during August, producing 2,015 tonnes of copper metal operating at 97 per cent of nameplate design for the month.
It followed this up in September with 2,104 tonnes of copper metal produced operating at 101 per cent of nameplate.
The achievement of nameplate production came within 11 weeks of start-up, which the company boasted to be an outstanding performance confirming the capabilities of the operating team and management at the Kipoi copper project.
“With the SXEW now achieving production expectations we will focus on cathode production as the commercial returns are significantly superior to those associated with concentrate production,” Tiger Resources managing director Brad Marwood said in the company’s announcement to the Australian Securities Exchange.
“Planning for the transition to 100 per cent cathode production has commenced.”
Tiger expects the plant to produce 14,000 tonnes of copper cathode this calendar year, and 25,000 tonnes of cathode in its first full 12 months of commercial production.
The Kipoi copper project is located in the Katanga Province of the DRC.
Tiger has a 60 per cent interest in La Société d’Exploitation de Kipoi SPRL (SEK), a DRC-registered company which holds the project assets and is the operator at Kipoi.
The company has entered into an agreement to acquire the remaining 40 per cent interest from its joint venture partner, Gecamines.