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Olympia Resources To Build Zircon Processing Plant in Kalimantan
Sydney, Oct 25, 2006 (ABN Newswire) - Olympia Resources Limited (ASX: OLY) is pleased to announce that following the completion of a very positive feasibility study, the Olympia Board has approved the construction of a 25,000 tpa zircon processing plant at Banjarmasin in Kalimantan. This processing plant will be operated by PT Olympia Indonesia which is 90% owned by Olympia Resources Ltd and 10% by Olympia's Indonesian partner, Ali Susanto.
- Feasibility Study confirms net cashflow (before interest and tax) of $54.8M over 10 years
- Capital Cost - $3.1 million
- Capital Payback Period (excluding interest and tax) - 10 months
- Plant in production by mid 2007
For a full copy of the announcement please visit:
www.olympiaresources.com
About OLYMPIA RESOURCES LIMITED
Olympia Resources (ASX: OLY) is a Western Australian ASX-listed company focused on the exploration and development of a range of resource projects. OLY is developing the Harts Range Abrasives deposit Olympia Resources Limited near Alice Springs in the Northern Territory and plans to begin mining heavy mineral sands at the Keysbrook Project in the South-Western Australia in early 2007. OLY has also confirmed the existence of potentially significant gold mineralisation at Bruce's Prospect in the Northern Territory.
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