TECHNOLOGY METALS AUSTRALIA LIMITED
Technology Metals Australia Limited (ASX: TMT) is focused on developing its 100% owned Yarrabubba Iron-Vanadium-Titanium and Gabanintha Vanadium Projects located south of Meekatharra in Western Australia.
The Yarrabubba Iron-Vanadium-Titanium Project represents a low cost high-margin development opportunity. The mineral resource at Yarrabubba is 28Mt grading 39% Fe and 0.9% V2O5. Initial test work has confirmed that a high iron (>63%) vanadium rich (>1.6% V2O5) magnetite product can be produced. This is a high-grade feedstock for steelmakers with capacity to produce a vanadium by-product. A titanium concentrate (>46% TiO2) will be produced as a by-product.
The Gabanintha Vanadium Project has been subject to a high quality Definitive Feasibility Study (DFS) confirming lowest quartile operating costs, of high value and a technically strong development opportunity. The DFS delivered a Mining Reserve of 29.6Mt @ 0.88% V2O5 and a project pre tax NPV8% of A$ 1,320M (US$ 924M) from an initial +16-year mine life.
The simple geology of the orebodies at Yarrabubba and Gabanintha allow straightforward open pit mining and concentration of iron, vanadium and titanium. Yarrabubba will enable the staged development of the Gabanintha Project while retaining flexibility in the products it sells. Gabanintha will be one of the highest-grade, lowest cost vanadium operations in the world, at a scale that will make it the largest single primary vanadium producer.