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Coda’s recoveries pump production

5 July 2022
ASX: COD
Jack Baker

Coda Minerals have shown recoveries of copper and cobalt exceeding 99 per cent on its Emmie Bluff deposit — the largest of Elizabeth Creek project deposits within the Olympic copper province of South Australia.

The results enable the production of high purity minerals using an economic atmospheric leaching process — setting the project apart from the more costly pressure oxidation process.

The company said the latest milestone positions the project as a potential significant supplier for the electric vehicle and renewable industries.

“Elizabeth Creek has the potential to become a major producer of critical future minerals, and the ability to sell value-added products like copper cathode or cobalt sulphate – which has historically sold at a substantial premium to LME cobalt – represents a significant boost to the project,” chief executive Chris Stevens said.

The company is moving ahead with further process studies while continuing work on defining and extending its resources.

A scoping study is due to be completed in the September quarter.

COD’s Australian Stock Exchange-listed share price was trading at 32c today (9.29 am UTC+ 8 hours).

COMPANY OVERVIEW

Coda Minerals is an exploration company focused on the exploration, discovery and development of minerals in the base metals, precious metals and battery minerals sector. Coda owns a 100% interest in the Elizabeth Creek Copper Project in South Australia. The Elizabeth Creek Copper Project has a long history of Cu production, established JORC 2012 compliant Resources and excellent exploration upside potential. The Company listed on the ASX in October 2020, following a heavily oversubscribed IPO and is actively progressing exploration at its flagship Emmie Bluff Copper-Cobalt-Silver prospect. In June 2022, Coda completed an off-market takeover offer to acquire all of the ordinary shares in Torrens Mining Limited (ASX code: TRN) (Torrens) to consolidate 100% ownership of the Elizabeth Creek Copper Project.

COMPANY INFORMATION

ASX: COD

Website

https://www.codaminerals.com/
https://www2.asx.com.au/markets/company/cod

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