Cobar Basin Optimisation Update

On 23 October 2024, we shared positive outcomes from our Cobar Basin Optimisation scoping study.

The Study identified a capital efficient throughput expansion of our Peak processing plant as the preferred optimisation strategy, taking throughput capacity from 800kpta to 1,100-1,200ktpa. The outcome will see Peak process all ore from our Federation Mine.

Plant upgrades required to achieve the expansion include crusher and materials handling ahead of the existing plant feed infrastructure and relocating the ball mill from our Dargues site for tertiary grinding.

Significant value will be created from the expansion, including through:

• higher net revenue from the production of separate lead and zinc concentrates
• payability of gold, silver and copper
• lower operating costs.

Furthermore, the expansion will leave the Hera processing plant available to process additional Aurelia or third-party ores.

Speaking about the outcomes of the study, Managing Director and Chief Executive Officer, Bryan Quinn said they underscore the confidence we have in our infrastructure to deliver growth in our base metals business.

“We create significant shareholder value processing all of the Federation ore at an expanded Peak processing plant with better water and energy intensity outcomes in line with our Sustainability Strategy,” Bryan said.

“This study exemplifies our Curiosity and One Team Values. It is a credit to our technical and operational teams who have come together to think differently and deliver a path forward that significantly enhances the value of our business,” Bryan concluded.

Follow this link to read the full announcement.