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Technology Metals Australia Ltd.
Summary
| Project: | Gabanintha | |
|---|---|---|
| Deposit: | Gabanintha | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 8/21/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-8-2019: Technology Metals Australia Ltd. announces a Feasibility Study report for its Gabanintha deposit at the Gabanintha project. DFS results incl. pre-tax NPV (8%) of US$924M, IRR of 34%. Technology Metals Australia Limited (ASX: TMT) (“Technology M | |
| Resources: | (Reserve, P+P): 29.6Mt @ 0.88% V2O5 at project | |
| CP/QP: | [Overall Report]: Karl van Olden (CSA Global Pty Ltd.) | |
| ABSTRACT: | Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to announce the results of the definitive feasibility study (“DFS”) on its 100% owned Gabanintha Vanadium Project (“GVP” or the “Project”) in Western Australia. The DFS is based on the development of an open pit mining operation, crushing, milling, magnetic separation, salt roasting – water leaching and chemical process plant to produce high purity (+99%) vanadium pentoxide (V2O5) product for use in the steel, specialty alloy, chemical and battery markets. The GVP DFS confirms the Project to be a long life, low cost, high value, relatively low risk and technically strong development opportunity with a proposed average production rate of 27.9 Mlbpa (12,800tpa) high purity V2O5 product over a +16 year operating life. The peak steady state production rate is proposed to be around 30.0 to 31.0 Mlbpa (13,700 to 14,200tpa) which would establish the GVP as the World’s largest primary production vanadium producer. The DFS has been developed to a confidence level of -5% to +15%. Life of mine cash operating costs (C1) are estimated at a highly competitive, lowest quartile US$4.04/lb V2O5 with all in costs (AIC) including start up and sustaining capital of US$5.75/lb V2O5. Figure 1 highlights the competitive advantage that these low cash operating costs provide relative to the global vanadium industry (black dots represent existing V2O5 producers) and provides confidence that the GVP will be sustained through vanadium price cycles. The figure also highlights the spread of cash costs across the varying V2O5 supply sources, with Chinese Stone Coal supply identified as being relatively high cost. | |
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