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ASTRON LIMITED — Interim / Quarterly Report 2012
Jul 29, 2012
64449_rns_2012-07-29_d84843c0-4115-4a63-8e35-81d879ae56ef.pdf
Interim / Quarterly Report
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ASTRON CORPORATION LIMITED ACN 154 924 553
Notice to the Australian Stock Exchange Production and Exploration Report Quarter Ended 30 June 2012
Donald Mineral Sands Pty Ltd (100% controlled by Astron Limited) (DMS)
DMS owns EL4432, EL4433, EL5255, EL5263, EL5353 and MIN5532 which together comprise the Donald Mineral Sands Project (Donald Project).
PRODUCTION
During the quarter the Donald Project did not conduct any production activities.
DEVELOPMENT
During the quarter development on the Donald Project continued. The following was undertaken:
Feasibility study
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Work continued on the definitive feasibility study. This included:
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confirmation from technical consultant’s Mineral Engineering Technical Services Pty Ltd that Astron’s proposed zircon washing process is feasible and capable of reducing the impurities in the Donald zircon sand, to produce a premium zircon product (announcement 18 June 2012);
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updating capital costs and the work schedule for construction;
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updating operating costs; and
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updating product selling price forecasts.
Reserve
- An ore reserve classified in the proved category as defined by the JORC Code was issued (announced 18 June 2012).
Appointment of Donald Executive General Manager
- Allen Cauvin joined the Donald Project as Executive General Manager. Allen was instrumental in bringing in Iluka’s Jacinth Ambrosia project on time and under budget (announced 7 May 2012).
Registered Office: Level 29, Wing on Centre, 111 Connaught Road, Central, Hong Kong Tel: 61 2 9375 2361 Fax: 61 2 9375 2121 www.astronlimited.com
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Funding
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During the June quarter Astron focused on its strategy for funding the Donald Project, this included:
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an institutional investor roadshow in Australia, US, Canada, UK and Europe.
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continued discussions with potential debt funders and strategic equity partners.
EXPENDITURE SUMMARY
Total expenses incurred were:
| Production Activities | JunQtr 2011 | YTD 2012 FY |
|---|---|---|
| Nil | Nil | |
| DevelopmentActivities | JunQtr 2011 | YTD 2012 FY |
| 1,011,021 | 2,521,717 |
Niafarang project
DEVELOPMENT
Mining licence application
Work continued on the components required to apply for the mining licence. The most significant of which are:
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the environmental impact assessment; and
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the mining license feasibility study report.
Resource and reserves
Astron commenced work on updating its reserve estimate for the Niafarang project.
EXPENDITURE SUMMARY
Total expenses incurred were:
| Production Activities | June Qtr 2011 | YTD 2012 FY |
|---|---|---|
| Nil | Nil | |
| DevelopmentActivities | June Qtr 2011 | YTD 2012 FY |
| 216,732 | 1,069,639 |
Registered Office: Level 29, Wing on Centre, 111 Connaught Road, Central, Hong Kong Tel: 61 2 9375 2361 Fax: 61 2 9375 2121 www.astronlimited.com
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For further information please contact:
Hayden Stockdale, Chief Executive Officer T: +61 435 461 630
Mark Nielsen , Chief Financial Officer T: +61 2 9375 2361
Allen Cauvin , Executive General Manager – Donald Project T: +61 3 5385 7088
Sydney 30 July 2012
Registered Office: Level 29, Wing on Centre, 111 Connaught Road, Central, Hong Kong Tel: 61 2 9375 2361 Fax: 61 2 9375 2121 www.astronlimited.com