“Matrix is in production”! Just a few words, but they epitomise why Matrix was formed and why mining companies exist. To achieve production and provide returns to shareholders. There are 550 mining companies listed on the ASX and less than 10%of them are in production. Your company is one of those producers.
The Leichhardt plant is producing copper cathode, utilising the proven heap-leach - solvent extraction - electrowinning process ("SX/EW"). From July 2008, production from Leichhardt will produce copper cathode at a rate of 9,000 tonnes per annum copper cathode, by treating ore mined from the nearby Mt Watson orebody.
The Leichhardt Project was developed accoring to the following time-table:
The company commenced production at the Leichhardt plant in June 2007 at the rate of 5,500 tonnes per annum of copper cathode. In December 2007, the company decided to upgrade the production facility by increasing throughput to 9,000 tonnes per annum. Commissioning of the expanded plant will occur in July 2008 and it is expected that the expanded production rate will be achieved during the September quarter 2008.
Mining will be staged, with Stage One mining from two areas of the greater resource, creating two smaller pits in the East and West of the potentially larger Stage Two pit. Stage One is represented in blue colour, while Stage Two is represented in brown colour. In addition, there are previously identified prospects at the Hidden Treasure, Mt Earl, Mt Wonder, Tewinga and Boomerang (all within the vicinity of Mt Watson) and Mighty Atom and Prospector (within the vicinity of the Leichhardt Processing Plant) which may provide the opportunity for further life extensions.
Investor Presentation - Dec 7th 2007 (click here)
- Oct 2nd 2006 (click here)