Coda Minerals' (ASX:COD) share price closed up 27% today on news of its Scoping Study on the sedimentary copper-cobalt mineralisation at its 100%-owned Elizabeth Creek project in South Australia. 

Coda Minerals says the Study has delivered compelling financial metrics and technical outcomes, and its Board had approved the commencement of next-stage Pre-Feasibility Study work.

It says the key outcome determines mineralisation to be sourced from two open pits, and one long-life underground mine to underpin average steady state annual production of 25,000tpa copper and 1,000tpa cobalt at a lifetime average grade of 1.86% CuEq- 1.29% Cu and 515ppm Co.

Coda Minerals says Phase 1 will be a year of copper-cobalt concentrate production to drive early cash flow, and Phase 2 involves the construction of a hydrometallurgical plant to produce 13 years of the higher value saleable end products of copper cathode, battery-grade cobalt sulphate, zinc carbonate, and silver doré.