Carbine Resources Limited (ASX: CRB) Quarterly Update
Operational Developments
Carbine Resources Limited (ASX: CRB) has released its quarterly report for the period ending 31 December 2024. The company focuses on advancing its Muchea West mining licence application and has engaged an environmental consultant to streamline the required approvals.
The Muchea West Project, located near Perth, boasts a resource of 110 million tonnes of silica sand at 99.65% SiO2. Carbine is in communication with the Department of Mines, Industry Regulation and Safety (DEMIRS) and the Department of Defence, with access agreements signed to facilitate the mining licence process.
Environmental Review Engagement
In a bid to bolster its environmental governance, Carbine has contracted Greenprint Solutions to evaluate previous environmental surveys. This review aims to ensure compliance with conservation standards and prepare for future approvals necessary for mining at Muchea West.
Project Planning Progress
The Down South Silica Sand Project, covering approximately 5,800 hectares, remains under active assessment. Preliminary satellite imagery analysis is in progress to identify potential areas for development. Carbine continues to collaborate with industry consultants for effective project planning and strategy enhancement.
Financial Overview
For the quarter, Carbine reported a cash balance of $451,000. The company incurred $42,000 in exploration and evaluation expenditures, principally associated with its ongoing projects’ assessment and compliance efforts.
Further details will be provided to shareholders as developments occur, demonstrating Carbine’s proactive approach in advancing its silica sand projects.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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