Finders reports Wetar DFS project completed

Australian firm Finders Resources Limited said on Tuesday that it is finalizing the definitive feasibility study (DFS) on its Wetar copper project in North Maluku and also reviewing capital and operating costs for the project.

The DFS includes project planning and design of infrastructure. The review of capital and operating costs includes analysis of contractor pricing.

The firm noted that its contractors had delayed in giving response but it was optimistic that the DFS results will be ready for distribution to the market in 4 to 5 weeks time.

?Although lagging slightly behind our original schedule, the additional scope for the DFS to include both acid neutralization and a fully integrated development incorporating expansion of our existing demonstration plant with the Whim Creek SXEW process plant optioned from Straits Resources will significantly reduce the development risk for what remains a low cost brownfields project,? Managing Director Chris Farmer said.

The company is planning to build a copper cathode project on Wetar island with production of 25,000 tons per annum.(denny)