I-Minerals Inc of Vancouver, BC announces that the feasibility study for its Bovill kaolin project in Idaho is now over 90% completed. But due to ongoing optimization studies and the related timing of receipt of revised vendor quotes, the technical economical model is now expected to be released late next month. The full NI 43-101 technical report will be filed in mid-April.
Thomas Conway, I-Mineral’s CEO, said, “While the delay until mid-February was not envisioned at the commencement of the feasibility study process, I-Minerals will still have delivered a quality study in a comparatively short period of time as compared with most mainstream metals mines. Throughout the process our priority has been to accrue as much benefit as possible to local suppliers and stakeholders and we have succeeded in generating widespread support for the project. While the resource capital markets are challenging at the present time, we do take some comfort in the fact that the majority of our mineral products are consumed in the U.S., are generally sold under contract, and some, such as k-spar, are in short supply domestically. All told, we believe we have a robust project that is not dependent on foreign markets for its success.”