3rd Nov 2015 08:32
LONDON (Alliance News) - Kennedy Ventures PLC on Tuesday said the process plant for the Tantalite Valley project in southern Namibia has been successfully commissioned.
The news sent Kennedy shares up 20% in early trade to 7.2147 pence, one of the best performers in the AIM All-Share.
Kennedy said the mine is now nearly fully staffed and expects underground production to be available for processing by the end of this months. Plans have also been put in place to expedite output and the company expects the first offtake deliveries to start in November.
Production is expected to ramp up to an initial target rate of 10,500 tonnes per month in the second quarter of 2016, the company said.
Kennedy owns a 75% stake in African Tantalum Pty Ltd, the company behind the Tantalite Valley project.
By Sam Unsted; [email protected]; @SamUAtAlliance
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