QMines has retracted production figures included in an ASX announcement yesterday on the positive outcome of test work and an expected boost in the scale of its Mount Chalmers operation.

It flagged a planned increase in mining throughput from 1Mtpa to 2Mtpa and an increase in
concentrate production from 190,000tpa to 482,000tpa.

‘The company has formed the view that these statements were aspirational in nature as a throughput parameter and contained metal assumptions for an ongoing feasibility study, however, on advice, this disclosure may be interpreted as a production target,’ QMines said today.

In its retraction today, QMines stated that the references to production throughput, based on internal metallurgical test work undertaken by COMO Engineers, were conceptual in nature and not production targets as defined in ASX Listing Rule 5.16.

Yesterday’s announcement came after bulk flotation metallurgical test work on a blended composite of ores from QMines’ Mount Chalmers and Develin Creek projects.

This confirmed the suitability of a simplified bulk flotation approach, delivering high metal recoveries with reduced processing complexity, the company said.

Pre-feasibility study updates are expected to be ready in the first half of next year and will take into account the impact of a simplified production flow sheet on project costs.

As well as incorporating operations at Develin Creek into the Mount Chalmers mine plan, they will include the Mount Mackenzie project that QMines is in the process of acquiring.