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• Moon River announced the initial results from analysis on the by-product metals in the Davidson deposit (tungsten, copper, REEs and gallium).
• The results showed high potential recovery for tungsten and possibly copper, giving us confidence in the upcoming metallurgical results.
• This is the first step in MOO’s goal of including these by-product metals in the mine plan, potentially improving the economics in the PEA.
• Last month, we interviewed management, view the interview here.
This morning, Moon River Moly Ltd. (MOO:TSXV) announced the initial results of chemical and mineralogical analysis work completed on its Davidson Molybdenum Project located in B.C. This chemical and mineralogical analysis was undertaken on samples from historical drill core from the Company’s warehouse in Smithers, B.C. The results from this analysis will be used to support and provide information in designing the planned metallurgical work aimed at investigating the recovery of by-product metals in the resource. As expected, the results were positive, showing high liberation of key by-products such as tungsten and copper. We are maintaining our BUY rating and $2.20/share target on Moon River Moly.
The initial analysis announced today indicated that at a modest grind size below 150 microns, molybdenum liberation ranged from 88% to 94% and tungsten liberation ranged from 89% to 94%. Copper liberation ranged from 46% to 57% at a grind size below 38 microns and REE liberation ranged from 47% to 52% also at a grind size below 38 microns. Gallium liberation recoveries have not yet been tested.
As a reminder, in August this year, MOO completed 1,205m of diamond drilling across two drill holes with the objective of obtaining a 1.5t sample of fresh drill core to conduct metallurgical studies to determine the economic viability of recovering by-products of the orebody, such as tungsten, copper, REEs, and gallium. Using the data and information from today’s announcement, MOO has sent the new drill core to the lab for testing with the results expected by year-end or early Q1/25.
Today’s results give us strong confidence that tungsten and possibly copper will be potentially economical to recover in an updated mine plan, thereby providing substantial upside to the economics in the existing PEA (see page 2 for a breakdown). Additionally, despite the low liberation recoveries for the REEs, there remains potential for these metals to be recovered based on the results of the upcoming metallurgical test work.
MOO: Metallurgical Analysis Supports By-Product Metals
What you need to know:• Moon River announced the initial results from analysis on the by-product metals in the Davidson deposit (tungsten, copper, REEs and gallium).
• The results showed high potential recovery for tungsten and possibly copper, giving us confidence in the upcoming metallurgical results.
• This is the first step in MOO’s goal of including these by-product metals in the mine plan, potentially improving the economics in the PEA.
• Last month, we interviewed management, view the interview here.
This morning, Moon River Moly Ltd. (MOO:TSXV) announced the initial results of chemical and mineralogical analysis work completed on its Davidson Molybdenum Project located in B.C. This chemical and mineralogical analysis was undertaken on samples from historical drill core from the Company’s warehouse in Smithers, B.C. The results from this analysis will be used to support and provide information in designing the planned metallurgical work aimed at investigating the recovery of by-product metals in the resource. As expected, the results were positive, showing high liberation of key by-products such as tungsten and copper. We are maintaining our BUY rating and $2.20/share target on Moon River Moly.
The initial analysis announced today indicated that at a modest grind size below 150 microns, molybdenum liberation ranged from 88% to 94% and tungsten liberation ranged from 89% to 94%. Copper liberation ranged from 46% to 57% at a grind size below 38 microns and REE liberation ranged from 47% to 52% also at a grind size below 38 microns. Gallium liberation recoveries have not yet been tested.
As a reminder, in August this year, MOO completed 1,205m of diamond drilling across two drill holes with the objective of obtaining a 1.5t sample of fresh drill core to conduct metallurgical studies to determine the economic viability of recovering by-products of the orebody, such as tungsten, copper, REEs, and gallium. Using the data and information from today’s announcement, MOO has sent the new drill core to the lab for testing with the results expected by year-end or early Q1/25.
Today’s results give us strong confidence that tungsten and possibly copper will be potentially economical to recover in an updated mine plan, thereby providing substantial upside to the economics in the existing PEA (see page 2 for a breakdown). Additionally, despite the low liberation recoveries for the REEs, there remains potential for these metals to be recovered based on the results of the upcoming metallurgical test work.
Underlying
MOON RIVER MOLY LTD
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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