Project feasibility study a primary focus, director says

 THE Frieda River copper-gold project feasibility study is a primary focus of PanAust, says managing director Dr Fred Hess.

In the company’s quarterly report for the three months ending December 31, PanAust said it continued to advance the Frieda River feasibility study. 

It included undertaking geotechnical analysis and engineering studies relating to mining, ore processing, waste rock and tailings storage, logistics and power.

Hess said the study was on track to be submitted to the Government in the first half of this year to initiate the process for regulatory approvals.

PanAust holds 80 per cent interest in the Frieda River project. Joint venture partner Highlands Pacific holds the remaining 20 per cent.

The feasibility study programme is structured around a stage-gate decision process that incorporates the findings from the technical and economic programmes.  

PanAust said work had commenced on an Exploration Access Track which would improve access to the main camp site from the Frieda River airstrip.

The firm said positive engagement with the Government, provincial administrations in Sandaun and East Sepik, and communities continued to foster support for the project. 

Hess said they faced significant challenges and changes last year.

This included a depressed metal price environment, and the company’s transition from being publicly listed to private by the Guangdong Rising Assets Management.