Freehill Mining (ASX:FHS) reports its recently acquired material processing plant is now fully operational at its wholly owned Yerbas Buenas Project in Chile.
The plant has increased the supply capacity of valuable waste material from the project and revenue will increase ‘significantly’ from this month onwards.
Freehill, which has a market capitalisation of $23.96 million, says material is being supplied to customers with purchase orders valued at $2 million to Chilean construction company Empresa Constructora Belfi and Cementos Melón.
The plant also gives the company processing infrastructure to restart magnetite mining at Yerbas Buenas, following the implementation of a new mine plan.
Managing Director Paul Davies says truck movements to fulfil customer orders are growing by the day.
Non-Executive Chairman Ben Jarvis says the company is focused on building revenue and its cash position to further unlock value from the project, as well as pursue other opportunities in the region that have immediate production potential and exploration upside.
The company intends to provide an update on April sales with the release of its March quarterly activities report.
Freehill Mining is an Australian explorer and mining company focused on iron ore, copper, and gold resources in Chile.
Write to Aaliyah Rogan at Mining.com.au
Images: Freehill Mining
