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78.00
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Gold
2,163.90
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46.11
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Iron Ore
109.15
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Hang Seng
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109.15
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Arcadia Minerals (ASX: $AM7) progresses mine construction at Swanson

Overview of Arcadia Minerals' mine construction progress at Swanson


Arcadia Minerals Limited (ASX: $AM7) is making significant progress in the construction of the Swanson Tantalum Mining Project. The company has announced that approximately Au$3,245,000 has been expended by HeBei Xinjian Construction CC (HeBei) as equity capital towards the ordering of processing equipment. Key highlights include the completion of the access to the Swanson Processing Site, ongoing construction of the Ore Supply Road, and the expected delivery of critical processing equipment by Q3/2024.

Executive commentary on construction progress and future plans


The progress made in the construction of the Swanson Tantalum Mining Project is a significant milestone for Arcadia Minerals. We are pleased with the advancements, including the completion of the access to the processing site and the ongoing construction of the Ore Supply Road. These developments align with our commitment to bringing the Swanson project into production and leveraging the potential cashflows to further drive exploration and development across our diversified metals projects. We remain focused on creating long-term value for our shareholders through strategic project execution and leveraging our industry-specific experience.

Summary of Arcadia Minerals' construction progress and future outlook


Arcadia Minerals (ASX: $AM7) has made substantial strides in the construction of the Swanson Tantalum Mining Project, with key equipment orders and infrastructure development underway. The company's strategy to bring the Swanson project into production and utilize potential cashflows to drive exploration and development at other projects remains a core focus. With ongoing construction activities and the expected delivery of processing equipment, Arcadia is positioned to achieve its goals and create value for its shareholders. The company's commitment to leveraging its human capital and industry-specific experience underscores its dedication to long-term success in the exploration and mining sector.

Sourcehttps://announcements.asx.com.au/asxpdf/20240202/pdf/0600nl6qpw0qh8.pdf

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