Merlin / Sierra Gorda
Just yesterday, Inova Resources (TSX:IVA,ASX:IVA) cut two directors on its board, at the same time stating that it still plans to move forward with its $345-million Merlin molybdenum-rhenium project. A recent mining review shows that the deposit’s mine production could “be increased by 10% with a 5% reduction in unit operating cost and the molybdenum-rhenium concentrate upgraded to between 38% and 45% [molybdenum],” Metal-Pages notes. The company is currently focusing on finding a strategic partner for the project and hopes to update its feasibility project.
KGHM Polska Miedz (OTC Pink:KGHPF) is also making progress on a project; it told Metal-Pages last month that its Chile-based Sierra Gorda copper-molybdenum project is set to start production midway through 2014. The mine is expected to last for 20 years, producing an average of 50 million pounds of moly for the first five years, then 15 to 20 million pounds thereafter.