Dec. 13, 2010 - The ASX has granted a trading halt to Gunson Resources pending an announcement regarding the finalisation of a capital raising.
It is not yet known which project the potential new funds will be allocated to, but in a company presentation released last week the company said the Coburn zircon project was ready for construction to begin, once finance is available.
Coburn is one of only two significant mineral sand development projects in the world, with recently completed detailed feasibility study.
Coburn had been seeking a minority (40%) investment partner, with no committed offtake.
The study revealed that the Amy Zone can support a high volume, low cost, long life mining operation producing quality zircon, over the 23.5 year mine life modelled.
Total revenue is estimated at $A2.2 billion, with an operating cash surplus of $A879 million, or $A37 million per annum.
It is not yet known which project the potential new funds will be allocated to, but in a company presentation released last week the company said the Coburn zircon project was ready for construction to begin, once finance is available.
Coburn is one of only two significant mineral sand development projects in the world, with recently completed detailed feasibility study.
Coburn had been seeking a minority (40%) investment partner, with no committed offtake.
The study revealed that the Amy Zone can support a high volume, low cost, long life mining operation producing quality zircon, over the 23.5 year mine life modelled.
Total revenue is estimated at $A2.2 billion, with an operating cash surplus of $A879 million, or $A37 million per annum.
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