# Copper smelters hungry for concentrate and Minrex has new ingredients Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/copper-smelters-hungry-for-concentrate-and-minrex-has-new-ingredients--fc2d3be8-eaf9-48d6-aeeb-30609c9e02ce Original source: https://stockhead.com.au/resources/copper-smelters-hungry-for-concentrate-and-minrex-has-new-ingredients/ Publisher: stockhead Original announcement: 2026-09-07T20:40:15.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Minrex Resources - Ticker: MRR - Exchange: Unavailable - Region: Serbia - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Metallurgy, Resource update, Drill results - Extracted: 2026-09-07 21:04:22 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Minrex Resources is advancing its Tlamino project in Serbia through a 9,000m drill program and metallurgical testwork led by Ausenco. The company aims to define a JORC-compliant resource and optimize a high-sulphur gold-silver concentrate that is increasingly valuable to copper smelters. Reasoning: The company is advancing a dual-track strategy of resource definition and metallurgical optimisation to capitalize on a structural shift in the copper concentrate market. - Positive factor: High-sulphur concentrate is highly prized by smelters in the current market - Positive factor: Metallurgical program led by reputable consultant Ausenco - Positive factor: Drilling results supporting the geological model and potential extensions - Positive factor: Significant increase in historical payabilities for similar concentrates - Negative factor: Current resource is non-JORC compliant - Negative factor: Metallurgical results are being validated/optimised from historical 2021 data rather than being entirely new Facts used in scoring: 3 ## Classification and evidence **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The reported 670,000oz resource is explicitly described as non-JORC and is the subject of an upcoming JORC-compliant update. Evidence · text > hosts the Barje gold-silver deposit, with a non-JORC resource totalling 670,000 ounces of contained gold equivalent **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document mentions a metallurgical program led by Ausenco to validate historical work, implying professional oversight, though specific lab methods aren't detailed in this snippet. Evidence · text > A metallurgical testwork program led by renowned engineering group Ausenco is also underway **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("CIP"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Metallurgical Results (3) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/copper-smelters-hungry-for-concentrate-and-minrex-has-new-ingredients--fc2d3be8-eaf9-48d6-aeeb-30609c9e02ce#fact-metallurgical-facts-0) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Ticker: MRR #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-07T00:00:00.000Z Reasoning: The resource is a non-JORC estimate based on a 2021 PEA. - Positive factor: Significant gold equivalent metal content - Negative factor: Non-JORC compliant - Negative factor: Historical data Evidence · text > non-JORC resource totalling 670,000 ounces of contained gold equivalent... grading 2.9g/t AuEq ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/copper-smelters-hungry-for-concentrate-and-minrex-has-new-ingredients--fc2d3be8-eaf9-48d6-aeeb-30609c9e02ce#fact-metallurgical-facts-1) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Ticker: MRR #### Test Work - Sample: Barje flotation testwork \(historical\) #### Recovery - Recovery: 70 % - Recovery Basis: unspecified #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-07T00:00:00.000Z Reasoning: Historical flotation testwork from the 2021 PEA. - Positive factor: Produced clean, copper-free, high-sulphur concentrate - Negative factor: Historical payabilities were lower than current market levels Evidence · text > Flotation testwork behind the 2021 PEA produced a clean, copper-free, high-sulphur gold-silver concentrate #### Tags used in scoring **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 70% is below the weak band \(80%\) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/copper-smelters-hungry-for-concentrate-and-minrex-has-new-ingredients--fc2d3be8-eaf9-48d6-aeeb-30609c9e02ce#fact-metallurgical-facts-2) gold #### Identity - Commodity: gold - Ticker: MRR #### Test Work - Program Status: optimization - Test Type: flotation - Processing Route: flotation - Sample: Barje flotation testwork \(current program\) #### Lab - Laboratory: Ausenco - Consultant: Ausenco #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-07T00:00:00.000Z Reasoning: New metallurgical program to validate and optimize historical work. - Positive factor: Aims to optimize concentrate specifications for modern smelters - Positive factor: Targets high-sulphur content which is currently in demand Evidence · text > A metallurgical testwork program led by renowned engineering group Ausenco is also underway #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.