Wetar copper project updates

Finders Resources Limited, Australia, reported significant progress in the definitive feasibility study of the full scale development of the Wetar Copper Project in Indonesia. 

"Following four months of leaching and production from the large scale test heaps and 5 tonnes per day copper SXEW demonstration plant, Finders has now finalized design parameters for the full scale plant expansion to 20-25 thousand tons per annum," Finders said in a report to Australia Stock Exchange (ASX) on Thursday.

The definitive feasibility study is based on the Whim Creek SXEW plant that the company has an option to purchase from Straits Resources Limited for A$5 million.

Finders is the operator of the Wetar Copper project, and the Ojolali Gold-Silver project in Indonesia. A demonstration plant with 5 tons per day copper cathode capacity was commissioned in February 2009 and is permitted to process 100,000 tons of ore from the Kali Kuning deposit. The company is targeting up to 25,000 tons per year cathode by 2010, subject to final feasibility, permitting and project financing. 

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