Strandline Resources (ASX: $STA) Operations Update

Strandline Resources Limited (ASX: $STA) has provided an update on its operations at the Coburn Mineral Sands Project (Coburn). In April 2024, the Heavy Mineral Concentrate (HMC) production totalled 14,847 dry tonnes, in line with the new mine plan developed as part of the strategic review. Additionally, the Company drew down an additional A$5 million from lenders in May 2024, and a two-week trial of the Mineral Separation Plant (MSP) is planned for June 2024.

Executive Commentary

I would like to thank our personnel and service providers for their ongoing efforts and support in safely achieving consistent levels of production. The consistent production is a result of the strategic and methodical approach taken to all aspects of managing the operations including planning tailings storage and reducing unplanned downtime.

Summary of Operations Update

Strandline Resources' update on the Coburn Mineral Sands Project reflects the company's commitment to maintaining production in line with the new mine plan. The additional draw down of A$5 million from lenders in May 2024 demonstrates the company's proactive approach to securing working capital. The planned two-week trial of the Mineral Separation Plant (MSP) in June 2024 indicates the company's focus on enhancing processing capabilities. The ongoing review of operations and financial requirements, including the agreement to sell Tanzanian mineral sands assets for A$43 million, underscores the company's efforts to strengthen its financial position. As discussions with lenders are ongoing, the company's shares will remain suspended. The outlook for the Company's operations will depend on the successful execution of the MSP trial and the impact of the sale of Tanzanian assets on its financial position.