For ASX Market Release: 3 October 2018
KALI KUNING PIT WALL FAILURE
Finders Resources Ltd ("Finders") (FND:ASX) advises of a wall failure within the Kali Kuning open pit at the Wetar Copper Project. Approximately 300,000 BCM's of waste rock from the north-eastern highwall was displaced into the Kali Kuning pit over the morning of Monday, 1 October 2018.
Mining operations were suspended for approximately 12 hours to allow for a geotechnical assessment. The footprint of the slip has temporarily isolated a significant portion of the remaining Kali Kuning ore. Remediation options are being assessed and it is likely that the removal of the waste will impact short term mine production.
SXEW operations are not expected to be interrupted as a result of the wall failure and there is sufficient copper inventory in the heap pads and solution to maintain current production rates for the immediate future.
Further updates will be provided over the coming weeks.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr David Fowler
Executive Director & Acting CEO
25 Colin Street
West Perth WA 6005 T: +61 8 6555 3996
BACKGROUND INFORMATION ON FINDERS
Finders is the operator of the Wetar Copper Project (74.1% economic interest) located on Wetar Island in Maluku Barat Daya, Indonesia. The Wetar Copper Project comprises the development, open pit mining and processing of the high-grade sulphide deposits at Kali Kuning and Lerokis located within 3 kilometres of the coast on Wetar Island. Finders currently operates a 25,000 tonne per annum ("tpa") copper cathode solvent extraction-electrowinning ("SX-EW") plant, commissioned in May 2016, and a 3,000 tpa SX-EW plant for nameplate production capacity of 28,000 tpa copper cathode.
Board of Directors
Mr Colin Moorhead Non-Executive Chairman
Mr David Fowler
Executive Director & Acting CEO
Mr Gavin Caudle Non-executive Director
Mr Gordon Galt Non-executive Director
Mr Mark Sherman
Independent Non-executive Director
Mr Roderick Webster
Independent Non-executive Director
Perth Office:
25 Colin Street
West Perth WA 6005
T: +61 8 6555 3996
F: +61 8 6555 3998
E:info@findersresources.com
ASX Code: FNDwww.findersresources.com
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Finders Resources Limited published this content on 03 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 October 2018 00:27:04 UTC