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sAReIc PReVIeW

Poochera positioned for 2021

PFS on the Poochera halloysite-kaolin JV is on track for com-
A pletion in Q2, with production from the Carey’s Well deposit
potentially online mid next year.
“Our project is a lot different from others because of the short
timeline to production we are trying to achieve, 1.5 years com-
pared to a gold project which is about 10 years,” Andromeda man-
aging director James Marsh told Paydirt.
A 2019 scoping study on Carey’s Well indicated an initial pre-
production capex of $9 million would be required to kick-start a
DSO operation with material from shallow open pit mining sent to
China or Japan for toll wet refining.
However, studies are underway to determine if a wet process-
ing plant at Poochera is a viable option for the Andromeda/Mi-
notaur Exploration Ltd JV to pursue with results expected to be
known during the March quarter.
The scoping study estimated $28 million for installation of a dry
plant at site during the second year of operations, a figure slated
to be funded via cashflow.
Halloysite-kaolin demand is driven by mature markets in ce-
ramics and catalysts (for fluid catalytic cracking), while new and
emerging markets include HPA production and halloysite nano-
tube technologies.
“There happens to be a world shortage of halloysite-kaolin
material and we have a chance to fill that gap. Kaolin has been
used for 2,000 years and there is strong demand for that, but we Andromeda was close to securing 51% of the Poochera JV project
also have the halloysite where there is huge interest in hi-tech at the time of print. The company will move to 75% ownership once
triggering a decision to mine

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