Finders hopes to commence Maluku copper production 2009

UK miner Finders Resources Ltd. hoped to be able to decide whether or not to go on with development of its Wetar island copper-gold project in Maluku by the second half of next year with a view for production late 2008 or early 2009.

The company said in a recently released report that preliminary results from hydrometallurgical testing from Lerokis deposit concentrate yielded +93% Cu recoveries, for both Albion and Outokumpu HydroCopper processes, and show potential for significant zinc by product. The company said it would undertake a detailed review of the capital and operating cost implications of both processes, leading to a final selection decision by November.

Feasibility studies into concentrate production are accelerating under the management of Interment Engineering, including work on optimising concentrate production and floatation, tailings disposal, environmental management, and a revised resource estimate for the Kali Kuning deposit incorporating data from an additional 25 holes completed over the past three months.

The company is targeting copper production rate of 25,000 tpa.

Finders could earn up to 68 percent stake in the project, subject to audit. (alex)