THE BOURSE WHISPERER: Tiger Resources has pumped 203 tonnes of copper in concentrate through the Heavy Media Separation (HMS) plant at the company’s Kipoi copper project in the Democratic Republic of Congo.
This level of production is 200 per cent above the HMS plant’s nameplate capacity of 35,000 tonnes per annum of copper in concentrate.
Kipoi HMS plant. Source: Company announcement
The numbers are the result of Tiger achieving two consecutive months of production in excess of nameplate capacity with the plant producing 3,506 and 3,066 tonnes of copper in concentrate for March and April 2012 respectively.
“We now have our focus clearly on growth through exploration success, acquiring quality assets, completing the Definitive Feasibility Study for the solvent-extraction and electro-winning (SXEW) plant, and the continued delivery of production expectations underpinning our business plan,” Tiger Resources managing director Brad Marwood said in the company’s announcement to the Australian Securities Exchange.
The Kipoi project is located 75 kilometres from the city of Lubumbashi and covers an area of 55 square kilometres in the Katanga Province of the DRC.
According to Tiger Resources the project contains a 12km sequence of mineralised Roan sediments that hosts at least five known deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe.
The company has reported JORC-compliant resources at three of the deposits: Kipoi Central, Kipoi North and Kileba.
The principal deposit is Kipoi Central, which contains a zone of high grade copper mineralisation within a much larger, lower grade global resource.
The company has adopted a staged development approach at the Kipoi project.
Tiger said it would be exploiting the high-grade zone of mineralisation at Kipoi Central during its Stage 1 development phase.
During the three-year operation of Stage 1, Tiger anticipates processing 900,000tpa of 7 per cent copper through the HMS plant with a recovery rate of 55 per cent to produce the equivalent of approximately 35,000tpa of payable copper.
Tiger is currently undertaking a feasibility study to evaluate the economic viability of constructing a SXEW plant (Stage 2), targeted to come on-stream by April 2014.
It is envisaged that ore from Kipoi Central, Kipoi North and Kileba South and the other deposits within the Kipoi project and within the nearby Lupoto project would be processed during the Stage 2 phase.