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Australian Vanadium Ltd.
Summary
| Project: | Gabanintha | |
|---|---|---|
| Deposit: | Gabanintha | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 12/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-12-2018: Australian Vanadium Ltd. announces a Pre-Feasibility Study report for its Gabanintha deposit at the Gabanintha project. PFS results incl. post-tax NPV of US $912M (8%), IRR of 27.2% 17yr LOM at the project. Australian Vanadium Limited (ASX: AV | |
| Resources: | Reserve, P+P): 18.240Mt @ 1.04% V2O5 for 121Kt V2O5 contained | |
| CP/QP: | [Overall Report]: Roselt Croeser (Independent) | |
| ABSTRACT: | Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) is pleased to announce the prefeasibility study (PFS) results and the release of a Maiden Ore Reserve for its 100% owned Gabanintha vanadium deposit in Western Australia (“the Project”). The results of the PFS build upon the initial base case (see ASX announcement 26 September 2018 Gabanintha Presents Robust Base Case for PFS) and indicate a Project with a well defined resource base, robust economics and utilising an industry standard, low-risk method of beneficiation and refining to produce a vanadium pentoxide (V2O5) flake product. Capital and operating cost estimates have been developed to the level of accuracy of ±25% and include mine and processing circuit designs, a detailed financial model and supporting bodies of work. The additional work has indentified a reduction in capital costs and confirmed the low, industry comparative, C1 operating costs with further opportunities identified. The Project is based on a proposed open pit mine; crushing, milling and beneficiation plant (CMB) and refining plant for final conversion and sale of high quality vanadium pentoxide (V2O5) for use in steel, specialty alloys and energy storage markets. The PFS results highlight AVL’s potential to become a new low-cost vanadium producer. The body of work completed in the PFS will feed into the Definitive Feasibility Study (DFS). Due to the level of detail of many study aspects undertaken in the PFS, several areas are now at an advanced stage and work in 2019 will focus on optimisation and further refinement. Managing Director Vincent Algar comments, “By completing this PFS on Gabanintha we have taken a major step towards bringing our world class project into production. Announcing a maiden ore reserve is a key milestone and further embeds the Project’s low risk mineral resource and strong economic potential. The PFS includes detail that allows us to understand and design a long-life, low-cost vanadium pentoxide and cobalt concentrate production facility. Given the cyclical nature of the vanadium markets, it’s essential that all technical aspects are well understood and the capital and operating costs minimised. | |
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