The National aka The Loggers Times | 2.02.2016
HIGHLANDS Pacific Ltd says the completion date of the Frieda River project feasibility study has been extended to next month.
Highlands Pacific, which owns 20 per cent interest in the project, said this was to allow for additional operating parameters and design options to be investigated to maximise project returns, given the depressed commodity prices and challenging funding conditions.
It said in its 2015 December quarter report that the current work programme was scheduled for completion at the end of March.
It will be followed by an independent peer review to be conducted in April, providing the opportunity for an application to be submitted for a special mining lease by June 30 this year.
The majority 80 per cent stake is held by Chinese company Guangdong Rising Assets Management following its acquisition of PanAust last year
GRAM has left the PanAust team in place completing the feasibility study.
The costs of the feasibility study and associated work are being funded by PanAust (GRAM).
Meanwhile Highlands Pacific managing director John Gooding said the company continued to advance its projects during the December quarter, with strong production results at the Ramu nickel project, encouraging exploration results at Star Mountains.