🕐03.03.10 - 06:07 Uhr
Mantra Announcement: Commencement and Award of Definitive Feasibility Study to DRA Mineral Projects
Dear all,
Please find below an announcement made today regarding the Definitive
Feasibility Study for the Nyota Prospect, part of the Company's wholly
owned Mkuju River Project in southern Tanzania.
Mantra Resources Limited ('Mantra' or 'the Company') (ASX: MRU, TSX:
MRL) is pleased to announce that the Definitive Feasibility Study
('DFS') for the Nyota Prospect, part of the Mkuju River Project ('MRP'
or the 'Project') in Tanzania has commenced.
Following the successful
completion of the Pre-Feasibility Study ('PFS'), the Company has
appointed DRA Mineral Projects ('DRA') as the Engineering, Procurement,
Construction and Management ('EPCM') Contractor for the DFS.
This
appointment was completed following a comprehensive and competitive
tender process.
DRA are a highly respected company that has over 25 years experience in
the minerals industry, designing and building large scale mines,
processing plants and associated infrastructure throughout Africa.
DRA
were selected on the basis of their previous record of supplying a fully
integrated "one stop shop" that includes expertise in most facets of
designing and building mines.
These attributes include mining,
processing, design and project management.
In addition, via their
operational company, Minopex, DRA will be able to assist Mantra during
the mine commissioning and ramp up period with operational expertise and
systems.
This is a key driver for Mantra to reduce its risk profile as
it brings MRP into production.
Their offices are based in Johannesburg,
South Africa.
In addition to the appointment of DRA, Mantra has selected and completed
the appointment of a highly experienced owner's team, all of whom have
extensive project management and operating experience in Africa.
The DFS is scheduled for completion during the fourth quarter of 2010.
A
key component of the DFS is a comprehensive integrated pilot
metallurgical test program.
This program will comprise building a
laboratory scale plant that will process an approximate seventeen tonne
bulk sample, representative of the first seven years of scheduled
production from the Project.
This work will be conducted at ANSTO in
Sydney with the aim of testing and optimising the current Project flow
sheet and minimising Project risk.
Other key aspects of the DFS include:
* Further resource infill and exploration drilling.
Two drill
rigs are already on site and further rigs will be brought in through the
year;
* Permitting; and
* Uranium marketing and off-take arrangements.
Peter Breese, Mantra's CEO said "This is a significant step forward for
the Company.
The PFS has delivered excellent results and we thank MDM
Engineering for a robust and comprehensive study.
The appointment of DRA
and the commencement of the DFS will allow for full integration of the
Project disciplines within the EPCM Contractor as the Company starts to
transition from explorer to developer and ultimately producer".
The Company has also lodged an updated investor presentation which can
be viewed by clicking on the following link:
http://mantraresources.com.au/upload/documents/releases/presentations/20
100303_100303-MRUInvestorPresentation_PFS_FINAL.pdf
Please don't hesitate to contact Peter Breese, Matthew Yates, Robert
Behets or Alex Buck if you have any questions.
Regards
Peter Breese
Chief Executive Officer
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000
T: +61 (0)8 9322 6322 F: 61 (0)8 9322 6558 in Australia
T: +27 (0)11 467 2172 F: +27 (0)86 658 3476 M: +27 (0)82 888 6852 in
South Africa
E:
W: www.mantraresources.com.au
Matthew Yates
Executive Director
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000
T: 618 9322 6322 F: 618 9322 6558
E:
W: www.mantraresources.com.au
Robert Behets
Executive Director
A: Level 9, The BGC Centre, 28 The Esplanade, PERTH WA 6000
T: 618 9322 6322 F: 618 9322 6558
E:
W: www.mantraresources.com.au
Alex Buck
Investor Relations
T: +44 7932 740 452
E: