MEDIA
RELEASE
22
January 2008
Matilda
delivers 50% production boost
Matilda
Minerals Limited (ASX:MAL), Australia’s only mid-tier mineral sands producer,
has ramped up operations at its flagship Tiwi Islands project in the Northern
Territory, with a 50% boost in production during the last quarter.
Matilda’s
Managing Director Bruce Maluish said
that following the addition of the new feeder system to the processing plant,
mineral sands production for the December quarter 2007 had increased sharply,
exceeding original expectations.
Total
production of concentrate for the quarter was more than 8,600 tonnes, an
increase of more than 50% from the previous quarter’s production of
approximately 5,500 tonnes (see production graphs over page).
“We
have significantly expanded throughput and production during the past quarter,
and expect to now sustain production at this new increased level,” Mr Maluish
said.
“Matilda
had forecast the plant improvements to deliver a 30% increase in capacity, so
we are very pleased with the result, and the value this will create for
shareholders.
“The
project is currently operating at steady-state production, with more than
15,000 tonnes of high quality concentrate stockpiled ready for shipment.” Mr
Maluish said.
“Our
shipping programme is expected to resume in the second quarter of 2008 after
the wet season and access to the port is completed,” Mr Maluish said.
The
improvements to the processing plant, which were announced and implemented last
year, included a high capacity apron feeder and wet trommel screen feeding to
the existing concentrator.
Mr
Maluish said that the additional capacity meant Matilda was able to capitalise
on the considerable minerals sands potential within Tiwi Islands,
with its high quality, zircon- and rutile-rich product.
The
Company is also conducting further testwork to evaluate implementing a number
of other modifications and improvements to the circuits within the processing
plant which would improve concentrate quality and reduce operating costs.
For further information
contact:
Bruce Maluish – Managing Director
Matilda Minerals Limited
Tel: (08) 9481 1444 or 0418 940 417
Warrick Hazeldine
Investor Relations
Tel:
(08) 9485 1254 or 0417 944 616
Background
Matilda
Minerals Limited is focused on developing high-value zircon and rutile-rich
mineral sands deposits on its flagship Tiwi Islands
project. Matilda is distinguished from traditional mineral sands companies
where lower‑priced ilmenite is the primary product.
Its
Tiwi Islands
mineral sands project is situated on Bathurst
and Melville (Tiwi) Islands north of Darwin, Northern Territory, and is in full production for the
next four years on the Melville Island.
Increased
worldwide demand for zircon has led to the price exceeding US$800 per tonne.
Matilda
has compiled an impressive portfolio of exploration tenements that covers the
highly prospective far north Queensland region
on the west of Cape York including Urquhart
Point and more recently, Mapoon.
Matilda
also has other projects in Western Australia
at Pender Bay
(north of Broome), Anson Bay (north Western
Australia) and Carnarvon.
For
more information visit: www.matildaminerals.com
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