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PROTO RESOURCES & INVESTMENTS LIMITED

ASX: PRW

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Proto Resources & Investments Ltd aims to be a globally significant nickel producer by enacting a three-pronged strategy of acquiring and developing assets, developing its proprietary nickel laterite processing technology and continuing its frontier multi-commodity exploration campaign.

Proto’s flagship nickel project is at Barnes Hill near Beaconsfield in northern Tasmania. The deposit has approximately 125,000 tonnes of contained nickel and three million tonnes of iron ore as well as other elements such as cobalt and magnesium. Proto is targeting production in 2014 aiming to produce approximately 4,000 tonnes of nickel metal per annum. Metals Finance Ltd can earn a 50% interest in the project by completing flow sheet designs, engineering and feasibility studies and by operating the mine. With an estimated IRR of 47 per cent and Net Present Value of greater than $100 million, based on the ion exchange flow sheet alone, Barnes Hill represents a very exciting growth opportunity for the company.

Proto owns 50% of a technology company, Barrier Bay Pty Ltd, which is developing a revolutionary process for regenerating and recycling acid and water from metal-containing acidic solutions. The process uses a series of electrochemical cells separated by anion exchange membranes to separate former waste compounds into reusable products thus drastically improving the economics and potential environmental impacts of mines. Proto, in conjunction with Barrier Bay, is aiming to capitalise on this fully patented process by rolling it out on Barnes Hill and larger nickel laterite deposits in the future.

Proto is currently exploring for minerals in the Northern Territory and Western Australia. The Northern Territory exploration campaign is targeting nickel sulphide and copper mineralisation over three large, previously under-explored, tenements – Lindeman’s Bore, Waterloo and now the new Rosewood earn-in. The ground boasts the only other Norilsk-style analogue and Proto has teamed up with the Queensland University of Technology and the British Open University to jointly explore and evaluate this ground. The Western Australian ground is situated in the copper- and gold-rich area of Doolgunna. This region has had a number of recent large discoveries by neighbouring companies and with the recent Mooloogool deal woth Dourado Resources Limited, Proto is brilliantly positioned with over 1,967km2 of pegged and earn-in ground in the area.

Mine For

nickel, copper, gold

Location of operation(s)

Tasmania, New South Wales, Northern Territory, Western Australia

Address

Unit 2, 70 Shaw Street,
BEACONSFIELD, TAS, AUSTRALIA

Phone

(61 2) 8225 4000

Email

Website


Last Updated

25/3/2015

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.