|
Marula Mining PLC - London-based Africa-focused mining and development company - Approves a $8.1 million budget and work programme for tungsten exploration and mine and process plant development works to commence at the Northern Cape Lithium and Tungsten Ltd Project located in the Northern Cape Province of South Africa. The NCLT Project is wholly owned by Marula through its South African subsidiary, Southern African Lithium and Tantalum Mining Pty Ltd. The approved exploration budget and mine and process plant works program is scheduled to be completed over a period of 14 months in two phases, and takes the project through to the planned initial production of a high-grade tungsten concentrate. Exploration activities are planned to be extended over a total 12-month period and will primarily focus on known high-grade tungsten mineralisation identified across several former mining operations and defined projects with the project. Aims to complete the initial phase 1 exploration activities and confirmatory technical and resource estimation studies during the initial 7-month period at a cost of around $2.0 million. Phase 2, consisting of civil works for the process plant and the installation and commissioning of the crushing and screening and dense media separation and cyclone plant, is estimated to cost $6.10 million. First production of a 70% concentrate from the Kaalbeen and Isis Tungsten Mines is scheduled within 14 months after the commencement of the exploration activities. Approval of the total budget and work programme remains subject to finalisation of stand alone funding. ‘There can be no guarantee that such funding will be secured, or secured on terms acceptable to the company,’ Marula says. Current stock price: 3.15 pence 12-month change: down 21% Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
