Derisking of Luni continues. WA1’s latest metallurgical test results indicate beneficiated concentrate can be effectively leached to remove the majority of deleterious phosphorous. Future test schemes will include variability analysis and conversion of leached concentrate to ferroniobium. The signing of a negotiation protocol with the Tjamu Tjamu provide a pathway to an agreement for establishment of access and other key infrastructure. Key future catalysts are expected to include additional process metallurgy results and some form of preliminary economic analysis. Entry of a strategic corporate partner could drive further investor interest.
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