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Olympia completes sands study

JUNIOR minerals explorer Olympia Resources has completed a bankable feasibility study into its Keysbrook mineral sands project, where it expects to be mining next year. The planned mine, 70km south of Perth, is expected to provide a net cash flow (before interest and tax) of $12 million a year to Olympia over an eight-year period. Olympia managing director Peter Gazzard said mining was expected to start in the fourth quarter of 2006. Negotiations for the sale of titanium minerals from the mine to a major titanium pigment company are well advanced, the company said.Olympia is currently developing the Harts Range abrasives project near Alice Springs in the Northern Territory.

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