Future Metals NL on Thursday announced a scoping study report on the Panton platinum group metals project, with a prefeasibility planned.

The West Perth-based exploration company focused on the Panton platinum group metals project in Western Australia said the study showed ‘robust’ project economics, demonstrating potential for Panton ‘to be one of few long life, globally significant PGM operations in the western world.’

Future Metals shares plummeted by 45% to 1.77 pence per share on Thursday morning in London.

The firm highlighted that the scoping study has been completed to a level of accuracy of plus or minus 35%.

The company is planning to start a prefeasibility study, with an aim to complete it in the fourth quarter of 2024.

Future Metals said the study supported a high-grade initial 9-year operation processing reef and high-grade dunite material through a conventional crush, grind & flotation flow sheet, producing about 117,000 ounces of PGM per year.

Managing Director Jardee Kininmonth said: ‘We are very pleased that the Panton scoping study demonstrates robust economics for a globally significant platinum group metals-nickel-chromite project. Future Metals’ team has capitalised on the significant bank of prior work completed on the project and its superior grades to develop a conventional flow sheet producing saleable PGM and chromite concentrates at a meaningful scale in a global context.’

Copyright 2023 Alliance News Ltd. All Rights Reserved.