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Glenover Phosphate - Pilot Plant Study Proposal
Glenover Phosphate - Pilot Plant Study Proposal.
About this update from Galileo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8376H Galileo Resources PLC 12 June 2017 \n\nFor immediate release\n \n12 June 2017\nGalileo Resources Plc\n(\"Galileo\" or \"the Company\")\nGlenover Phosphate - Pilot Plant Study Proposal\n \nGalileo (AIM:GLR) is pleased to announce that its 34% owned Glenover Phosphate (Pty) Ltd (\"Glenover\") and a major phosphate producer (\"MPP\") have executed a proposal agreement (the \"Agreement\") whereby MPP intends to undertake upward of US$300,000 in expenditure on a two-phase, pilot plant phosphate flotation study (\"PPFS\"), which could lead to the possible development of the Glenover Phosphate/Rare earth project (the \"Project\"). Under this Agreement, MPP has elected to continue and undertake Phase 1 of the PPFS, being a Water and Ore variability Study, as further set out below. The Project is situated in the Limpopo Province of the Republic of South Africa,\n \nHighlights\n \n· Major phosphate producer (MPP) intends to undertake expenditure of upwards of US300,000 on a pilot plant phosphate flotation study to produce phosphate concentrate for testing by MPP \n· The ultimate objective of the undertaking is either to develop the Project or sell the Project in whole or part to MPP \n· Galileo has engaged a South African-based Consulting Group to execute a Mining Right Application for the Project concurrent with the PPFS \n· Rare-earths from the tailings of any future phosphate processing of the ore by MPP, would be available for further beneficiation \n· Extensive related testworks and negotiations have taken place prior to this Agreement \n \n \nColin Bird CEO commented: \"Galileo and Glenover JV partner (Ferminore) have been in discussions with various groups concerning the development of the Project. The successful group has elected to start the development testwork, prior to entering into a formal agreement either for Project purchase, in whole or part, or a supply agreement, subject to testwork performance. I am pleased that the potential exists by way of this Agreement to realise a significant return on the Company's initial investment in the Project. Im...