Viridis Mining Achieves Record Ionic Recoveries at Southern Complex
VMM (VMM) Share Update November 2024 Wednesday 13th
Viridis Mining Announces Record Ionic Recoveries at Southern Complex
Viridis Mining and Minerals Limited has announced remarkable results from its maiden metallurgical test work at the Southern Complex, achieving the highest ionic recoveries ever recorded at the Colossus Project.
Instant Summary:
- Highest ever ionic recoveries achieved at Southern Complex.
- 83% recovery of Magnetic Rare Earth Oxides (MREO) at higher pH and lower AMSUL concentration.
- Significant cost savings and increased production rates anticipated.
Breakthrough in Metallurgical Testing
Viridis Mining and Minerals Limited has achieved a significant milestone with its Southern Complex at the Colossus Project. The maiden metallurgical test work, which included samples from 26 different drill holes, has resulted in the highest ionic recoveries ever recorded for the project.
The test work utilized a benign and cost-efficient Ammonium Sulfate (AMSUL) solution at a pH of 4.5 and a concentration of 0.3M. This approach led to a remarkable 83% recovery rate for Magnetic Rare Earth Oxides (MREO), including Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb).
Operational and Economic Impact
The results from the Southern Complex are not only scientifically groundbreaking but also economically advantageous. The ability to achieve higher recoveries at a more neutral pH and lower reagent concentration translates into significant cost savings. This improvement is expected to enhance the project's operational efficiency, increase Total Rare Earth Oxide (TREO) production rates, and boost the MREC basket value.
Furthermore, the test work demonstrated that the Southern Complex can achieve these recoveries with minimal impurities, ensuring a high-purity product. This positions the Southern Complex as a key contributor to the overall success of the Colossus Project.
Future Prospects and Strategic Planning
Viridis is now focused on progressing the Southern Complex through the entire practical flowsheet to determine the overall 'ore to MREC' recovery. The company is optimistic about the potential for further improvements and is working towards finalizing the mine planning and scoping study for the Southern Complex.
The record ionic recoveries at the Southern Complex are expected to have a positive impact on Viridis Mining's stock, as these results suggest enhanced economic viability and operational efficiency. The ability to achieve high recoveries at a lower cost is likely to attract investor interest and confidence in the company's future prospects.
Investor Reaction:
Analysts are likely to view these results favorably, as they demonstrate Viridis Mining's ability to innovate and optimize its processes. The high recovery rates and cost savings potential could lead to increased investor interest and a positive market response.
Conclusion:
Investors should keep an eye on Viridis Mining's ongoing developments at the Southern Complex. The company's strategic focus on optimizing recovery processes and reducing costs positions it well for future growth and success in the rare earth elements market.