Business
Runruno Scoping Study Update
Runruno Scoping Study Update.
About this update from Metals Exploration Plc
[{"type":"text","content":"\n RNS Number : 0459Z Metals Exploration PLC 15 July 2008 \n \nMetals Exploration PLC\n\nRunruno Scoping Study - Update\nBIOX® selected as preferred process route\n\n\n15 July 2008\n\nMetals Exploration PLC ('Metals Ex' or 'the Company'), the natural resources exploration and development Company with assets in the Pacific Rim region, is pleased to provide an update on the progress of the Scoping Study being conducted on its Runruno gold-molybdenum deposit in the Philippines.\n\nHighlights:\n\n\n\nBIOX® technology selected as the preferred processing technology following a detailed assessment of the gold and potential molybdenum recovery and the likely capital and operating costs. \n\n\nAusenco well advanced in process design and capital and operating cost estimation.\n\n\nDiamond and RC drilling completed for this stage.\n\n\nDesign and costing of infrastructure components proceeding well with no fatal flaws identified.\n\n\nStudy expected to be finalised in late August - early September\n\n\n\n\nProcessing \n\nBIOX® processing technology has been selected as the preferred technology to be used in the oxidisation circuit for processing ore at Runruno.\n\nBoth BIOX® and Pressure Oxidation (POX) technologies have been shown by test-work to be equally applicable to processing Runruno ores with excellent gold recovery and good dissolution of molybdenum. In order to assess the application of the technologies to Runruno and to provide a basis for selecting a preferred processing route, the Company commissioned Gold Fields Mining Services to undertake a study on the capital (Capex) and operating (Opex) costs and the benefits and disadvantages of the BIOX® technology. Similarly, a study of the POX technology was undertaken by Ausenco. \n\nThe results of these comparative studies have shown that the Capex and Opex cost regime estimated for BIOX® technology is significantly lower than that estimated for POX; with BIOX® Capex estimated at about 50% and Opex at about 66% of that estimated for POX. Analysis of the benefits and disadvantages of the two technologies has shown BIOX® to be of a lower operating risk and more suited to the application proposed.\n\nAs a direct consequence of the finalisation of the gold processing route, molybdenum recovery test-work will now be focussed on a chemical ...