Strandline Resources ships second lot of HMC from Coburn project, WA

2023-01-27

Jan. 27, 2023 - Strandline Resources (STA) has shipped its second lot of heavy metal concentrate (HMC) from its Coburn project in Western Australia.

The company loaded 8600 wet metric tonnes of HMC product, comprising zircon sand, titanium ores and rare earth monazite, at the Port of Geraldton.

This shipment is valued at around $8 million, with sales proceeds expected within seven days.

Strandline Managing Director Luke Graham said the second shipment was a reflection of the “strong progress” the company had made at the project.

“The transition to mineral separation plant ramp-up and production of Coburn’s final product streams over the coming months will mark Strandline’s arrival as a world-scale, long-life producer of critical minerals, with some outstanding growth prospects, including the potential expansion opportunities at Coburn,” Mr Graham said.

“The combination of this growth outlook, the benefits of a tight, supply-constrained mineral sands market and having 100 per cent of Coburn’s initial production sold under binding offtake mean Strandline is set to enjoy a highly successful 2023.”

Strandline has also produced HMC volumes in addition to its latest shipment, which is being stockpiled for feed into the mineral separation plant and future sales.

Moving forward, the company said improving plant and equipment availability and optimising product recoveries continued to be a key priority for its commissioning and operational teams.

STA shares were up 1.12 per cent to 44 cents at 10:12 am AEDT.