Platinum Australia confirmed yesterday (30th April) that throughput at its Smokey Hills treatment plant hit 28,000 tonnes during March and an estimated 48,000 tonnes in April.

The company has now received its first payment from Impala Refining Services for concentrates processed at the South African plant under a life-of-mine offtake agreement.

Managing director John Lewins revealed that March saw the initiation of the first raise development, which means production from its underground stopes should commence during the September quarter.

He told Mineweb: "Plant commissioning has now progressed to the point where we are focused on ramping up production and will be moving to treat our higher grade stockpiles, some of which run at over 8g/t 4E pgm (platinum, palladium, rhodium and gold).

"Furthermore, the improvement in the platinum price over the quarter has been timely for our commencement of concentrate deliveries."

In addition, the company announced that it has conducted a "very significant" update of the Crater deposit at its Kalplats project, which has seen total mineral resources increase 25 per cent to 5.2m oz 3E pgm (platinum, palladium and gold).

Total ounces at the deposit, one of seven on the site, have increased by over 150 per cent to 1.72 million ounces 3E pgm, while the total grade has risen by almost 25 per cent to 2.04 g/t.

The high-grade component is now 11.6m tonnes grading 3.21g/t 3E pgm (1.2 million ounces contained), a substantial increase from the previous 2.58m tonnes at 3.58 g/t (327,000 oz contained).

Platinum Australia is now expecting to achieve steady-state production margins of around $400 per oz at Smokey Hills.

Sources:

Platinum Australia receives first payment from Impala (30/04/09)

QUARTERLY REPORT FOR THE PERIOD ENDED 31st MARCH 2009 (30/04/09)

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