Braemore Resources PLC (AIM: BRR) said BHP Billiton PLC’s (ASX: BHP; LSE: BLT) technical and financial review on the company’s scoping studies for the Leinster nickel tailings project is expected to be completed during the third quarter of 2009.
BHP, on whose property some 380 kilometres north of Kalgoorlie, Western Australia, the project is to be located, had requested some additional data in the year to date.
Braemore CEO Leon Coetzer commented, “The Leinster project is moving steadily forward. We continue to be cautiously optimistic of the project's merits, and have maintained our area of focus amid the recently announced corporate activity.”
Successful completion of a feasibility study will be followed by development and operation of commercial plants to process sulphide nickel and to produce an intermediate concentrate estimated to contain 61and 65 percent nickel.
Subject to certain conditions, BHP Billiton has the right to buy the concentrates and to acquire a 50 percent interest in the project when it is up and running.
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