Future Metals NL (ASX:FME, AIM:FME) said it is incorporating a series of improvements into a scoping study of its Panton platinum group metals (PGM) project in Western Australia.
It expects they will demonstrate the viability of the deposit as a low-capital, high-grade and high-recovery operation producing PGMs, nickel and chromite concentrate.
Specifically, it will assess the inclusion of a chromite concentrate circuit as part of the flow sheet. "Chromite concentrate has the potential to be a valuable by-product and reduce tailings at site," investors were told.
The update was contained in the company's annual report, which also carried the latest financial results. It showed the mine developer posted an after-tax loss of A$7.3 million for the 12 months ended 30 June 2023, in line with last year.
More importantly, it ended the period with cash and equivalents of A$2.7 million.