R3D Resources Limited ( (AU:TAT) ) has provided an update.
Tartana Minerals Limited has entered into a binding Heads of Agreement with Mt Garnet Mineral Finance Pty Ltd to form a venture aimed at processing copper ore from the Tartana open pit at the Mungana processing plant. The venture plans to produce 5,000 to 10,000 tonnes of copper concentrate for sale, with operations expected to start in the second half of 2025. The agreement includes provisions for future development and processing of other mineral resources in the Chillagoe region. The venture is expected to generate cash flow, which will be shared equally after covering costs, and the initial capital requirement is estimated at less than $10 million, which can be staged to reduce upfront expenses.
More about R3D Resources Limited
Tartana Minerals Limited is a company operating in the mining industry, focusing on the extraction and processing of copper and other minerals. The company is involved in projects in the Chillagoe region of Far North Queensland, Australia, with a market focus on copper and zinc resources.
YTD Price Performance: -13.64%
Average Trading Volume: 193,159
Technical Sentiment Signal: Buy
Current Market Cap: A$8.14M
For detailed information about TAT stock, go to TipRanks’ Stock Analysis page.