Lycopodium named for mineral sands study

Local engineering firm Lycopodium and Queensland-based Mineral Technologies have been appointed to deliver a pre-feasibility study for Base Resources’ Toliara mineral sands project in Madagascar.

Base Resources said it expected the study to be completed in the March quarter of 2019.

Mineral Technologies and Lycopodium have previously undertaken studies and projects in minerals sands, including previous work on the Toliara project.

“The PFS will build on the considerable body of work completed by previous owners of the Toliara sands project and together form the foundations of an accelerated feasibility study program that aims to advance the project toward a decision to proceed to construction in the second half of 2019,” Base said in a statement to the ASX.

The news comes after Lycopodium was recently awarded a contract for design work at Nzuri Copper’s Kalongwe operation in the Democratic Republic of Congo and was appointed lead engineer and author of a PFS at Jervois Mining’s Nico Young project in NSW.

Shares in Base finished up 5.77 per cent at 28 cents each, while shares in Lycopodium were off 1 per cent at $4.60 each.