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Australian Vanadium Ltd.
Summary
| Project: | Gabanintha | |
|---|---|---|
| Deposit: | Gabanintha | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 9/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-9-2018: Australian Vanadium Ltd. announces a Pre-Feasibility Study report for its Gabanintha deposit at the Gabanintha project. PFS results incl. pre-tax NPV of US $1099M (8%), IRR of 39.5%, 17yr LOM at the project. Australian Vanadium Limited (ASX: AV | |
| Resources: | (Resource, Total): 175.5Mt @ 0.75% V2O5, 34.5% Fe, 9.3% TiO2, 18.8% SiO2, 11.9% Al2O3 | |
| CP/QP: | [Resources]: Lauritz Barnes, Brian Davis (Trepanier Pty Ltd.;Geologica Pty Ltd.) | |
| ABSTRACT: | Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) is pleased to announce an update to the ongoing pre-feasibility study (PFS) at its 100% owned Gabanintha vanadium deposit in Gabanintha, Western Australia. An initial base case has been developed and the results indicate robust economics based on an industry standard, low-risk method of beneficiation and refining. 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 developing energy storage markets. The initial findings are encouraging and highlight AVL’s potential to become a new low-cost vanadium producer. Options analysis is being undertaken as a normal component of the PFS with the target of confirming an optimised case to be taken into DFS at a later date . In parallel with the options work, capital costs are being developed to the required accuracy level of ±25%. This report contains an outline of material assumptions on pages 30-34. Managing Director Vincent Algar comments, “Our intention with the ongoing feasibility study work is to understand and design a long-life, low-cost vanadium pentoxide and cobalt concentrate production facility. It is essential that all technical aspects are understood and the capital and operating costs minimised, given the cyclical nature of the vanadium markets. Achievement of this objective will contribute greatly to a robust business case which will allow continuity of operation across a range of business conditions.” Introduction The purpose of this announcement is to provide an update on progress of the PFS and outline activities going forward. AVL and its partners are committed to providing a well designed, lowcost, viable project. As part of this commitment, a high level of diligence has been taken to assure the PFS is well founded. AVL’s team has many years of expertise in vanadium processing design and operation globally. We believe that this expertise is critical for the best project outcome. The base case has been developed and capital and operating costs determined at a ±35% level of accuracy.. The next steps in the PFS include designing and costing a number of options with the potential to improve project financial metrics. Once these options have been explored, the PFS will progress through to the establishment of a final operational design, where opex and capex will be estimated to within ±25%. Major equipment Requests for Quotation (RFQs) have been developed and are being issued wiith quotations expected in the following weeks. AVL advises that the final PFS is on schedule and on budget for completion in December 2018. | |
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