viewMetallica Minerals Limited

Metallica Minerals completes feasibility over mineral sands project


Metallica Minerals (ASX:MLM) has received its maiden Independent Ore Reserve Report and completed Feasibility Study for the Urquhart Point HMS Mineral Sands Project in Queensland.

During the life of the project, the concentrate is estimated to be valued between US$250 per tonne to US$330 per tonne FOB, depending on the mineral composition and spot price.

Estimated concentrate production is 87,000 tonnes with an average Valuable Heavy Mineral assemblage of 14.8% zircon, 17.3% rutile and 16.2% ilmenite, with the balance comprising predominately iron oxide sands.

Total operating costs are estimated at $11.02 and $12.52 per tonne of material mined, equating to between $2.5 million and $3 million per year.

Net revenue is estimated to be higher in the first 18 months of operation due to the high grades mined in the first mining areas allowing for early capital payback; and Metallica has $15 million in carried forward tax losses and therefore, the pre-tax and post-tax project returns are effectively the same.

In addition to Urquhart Point, Metallica holds more than 2,000 square kilometres of prospective mineral sands tenements in the Western Cape York region.

Several of these tenements also cover areas of Government mapped bauxite which will also be investigated during Metallica’s exploration drill programs from next quarter onwards.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Metallica Minerals Limited

Price: 0.011 AUD

Market: ASX
Market Cap: $3.56 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Xpediator PLC's CFO Robert Ross and COO of Logistics Romania to step up as...

Xpediator PLC's (LON:XPD) CFO Robert Ross speaks to Proactive's Andrew Scott following the news chief executive Stephen Blyth will step down from the position. Blyth will continue as a director in the position of founder and non-executive deputy chairman. While the search for a permanent...

1 day, 16 hours ago

2 min read