Perpetual Resources Ltd (ASX:PEC) has taken another step towards developing its 100%-owned high-grade Beharra Silica Project in Western Australia by lodging a Mining Lease Application (MLA 70/1406).
The company has started various concurrent studies to support the statutory mining licence approval process including regional water studies, flora and fauna studies, ongoing logistics and infrastructure studies, additional metallurgical studies and further mining studies.
Perpetual is also preparing to embark on a feasibility study for Beharra that will advance the project to a decision to fund later in the year.
An update on the progress of the mining lease application will be provided when further information comes to hand.
Major step forward
Perpetual believes the submission of this MLA is a major step forward as it continues to optimise all aspects of the Beharra project, with results of ongoing metallurgical testing also expected shortly.
Managing director Robert Benussi said: “This is yet another significant milestone for Perpetual’s shareholders, taking us one step closer to fulfilling our goal of seeing Perpetual join the ranks of ASX-listed mining company producers.
“This mining lease application submission occurs soon after the completion of our highly successful PFS study which demonstrated a high margin, low capex and strong returning project at Beharra.
“We remain extremely excited by what lies ahead for our shareholders as we continue to progress this compelling mining project, which appears to have the Mid-West region’s leading metallurgy and is proximal to Tier 1 infrastructure, both essential elements for a successful APAC focused export silica sand project.”
Shares are trading 6.5% higher at 8.5 cents.