Curis Resources (TSE:CUV) provided investors with an update and a look back at the progress made at its flagship Florence copper project, located in Arizona.
Over the last year, Curis has published a preliminary economic assessment (PEA) at the property, which confirmed the robust economics of the project, and outlined a development plan for operations.
It also completed an initial public offering (NYSEARCA:IPO) for listing on the Toronto Stock Exchange.
Curis is as well advancing the feasibility study for the Florence project, which it expects will be completed next year.
Most recently, it awarded an engineering, construction, procurement, and management contract to M3 Engineering of Tucson, Arizona.
M3 is currently scheduled to complete the contract for the phase one production test facility during the third quarter of 2012, at which point Florence Copper will begin production of copper cathode sheets on a pilot-scale basis.
About one-half of the recoverable copper contained in the 429 million ton measured and indicated copper oxide resource hosted on Florence Copper lies beneath a 160-acre block of State land, the company said. Curis holds the rights to recover and process minerals on this land under a mineral lease from the State.
The company plans to begin operations using in-situ copper recovery technologies within this State land parcel, beginning with a phase one production test. Commercial production at Florence Copper is expected by 2014.
In Toronto, shares of the company traded flat at $0.91, as of 2:53 pm EDT.