Proactiveinvestors Australia Technology Metals Australia Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Technology Metals Australia Ltd RSS feed en Sun, 16 Jun 2019 09:40:24 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Technology Metals Australia secures MoU for vanadium offtake with China-based metal manufacturer ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13451/technology-metals-australia-secures-mou-for-vanadium-offtake-with-china-based-metal-manufacturer-13451.html Wed, 22 May 2019 23:46:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13451/technology-metals-australia-secures-mou-for-vanadium-offtake-with-china-based-metal-manufacturer-13451.html <![CDATA[News - Technology Metals Australia signs vanadium offtake MoU with Chinese rare metal manufacturer ]]> https://www.proactiveinvestors.com.au/companies/news/220734/technology-metals-australia-signs-vanadium-offtake-mou-with-chinese-rare-metal-manufacturer-220734.html Technology Metals Australia Ltd (ASX:TMT) has executed a memorandum of understanding (MoU) with CNMC Ningxia Orient Group Company Ltd to establish a binding vanadium offtake agreement in relation to the Gabanintha Vanadium Project.

CNMNC, based in Shizuishan, China, produces vanadium nitrogen alloys and ferrovanadium for use in the Chinese steel industry.

TMT and CNMNC have agreed to use their best endeavours to negotiate a definitive and binding offtake agreement for the supply and purchase of vanadium pentoxide (V2O5) product that TMT intends to produce from Gabanintha.

READ: Technology Metals Australia aims for Gabanintha DFS completion in mid-2019, engaging in financing activities

TMT managing director Ian Prentice said: “We are very excited to have entered into this agreement with CNMNC, a China Nonferrous Metal Mining (Group) company, as a key step in establishing a strong and supportive customer base for the development of the high quality globally significant Gabanintha Vanadium Project.

“The very high purity of the Gabanintha vanadium pentoxide (V2O5) product provides a clear competitive advantage for the project”.

READ: Technology Metals Australia upgrades vanadium resource ahead of DFS

Key terms that have been defined and agreed upon in the MoU are:

• Initial minimum annual quantity of V2O5 to be purchased of 2,000 tpa (tonnes per annum) on a take-or-pay basis;

• CNMNC to purchase such quantity of product that is available, up to 2,000 tpa, during the ramp-up and commissioning phase of the project;

• Pricing to be negotiated based on the Metal Bulletin V2O5 Pricing Index incorporating a floor and ceiling price structure;

• Sales to be based on FOB at Port of Fremantle or similar;

• Minimum term of three years with an option to renew for an additional three years; and

• Consideration for CNMNC to refer TMT to its parent entity, CNMC, to discuss additional project support, including scope for financing and/or EPC arrangements.

 

The next steps to progress towards finalising the agreement include due diligence to be completed by both parties in conjunction with the progression of the Gabanintha DFS and further refinement and agreement of the key offtake terms.

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Wed, 22 May 2019 11:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220734/technology-metals-australia-signs-vanadium-offtake-mou-with-chinese-rare-metal-manufacturer-220734.html
<![CDATA[News - Technology Metals Australia has end-user/offtake partner update pending ]]> https://www.proactiveinvestors.com.au/companies/news/220545/technology-metals-australia-has-end-userofftake-partner-update-pending-220545.html Technology Metals Australia Ltd (ASX:TMT) has news pending of an update with regard to end-user/offtake partner discussions and has been granted a trading halt by the ASX.

The halt will remain in place until the start of normal trading on Wednesday, May 22, or when an announcement of released to the market, whichever occurs earliest.

Shares last traded at 23.5 cents on Friday.

READ: Technology Metals Australia aims for Gabanintha DFS completion in mid-2019, engaging in financing activities

The company is undertaking a definitive feasibility study (DFS) for the Gabanintha Vanadium Project which is expected to be completed in mid-2019.

This outlines a large, long-life and low-cost development opportunity, further enhanced by a recent 39% increase to the Northern Block measured and indicated mineral resource estimate.

Gabanintha’s high-grade resource estimate is 71.2 million tonnes at 1.1% vanadium oxide, within a total global resource of 131 million tonnes at 0.9%.

READ: Technology Metals Australia bolsters executive team with development experience

Overseeing the DFS is recent project director appointee David English and managing the study is Wave International, supported by a range of industry-leading consultants.

Pilot plant scale test work on a sample from the North Pit area generated a magnetic concentrate for salt roast/kiln pilot plant testing which is being undertaken this quarter.

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Mon, 20 May 2019 10:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220545/technology-metals-australia-has-end-userofftake-partner-update-pending-220545.html
<![CDATA[News - Technology Metals Australia aims for Gabanintha DFS completion in mid-2019, engaging in financing activities ]]> https://www.proactiveinvestors.com.au/companies/news/219223/technology-metals-australia-aims-for-gabanintha-dfs-completion-in-mid-2019-engaging-in-financing-activities-219223.html Technology Metals Australia Ltd (ASX:TMT) has progressed the definitive feasibility study (DFS) at its Gabanintha Vanadium Project to near-completion, scheduled to be finalised in mid-2019.

The DFS outlines a large, long-life and low-cost development opportunity, further enhanced by the 39% increase to the Northern Block measured and indicated mineral resource estimate during the March quarter.

Gabanintha’s global high-grade resource estimate increased during the quarter to 71.2 million tonnes at 1.1% vanadium oxide, within a total global resource of 131 million tonnes at 0.9%.

 

TMT chairman Michael Fry said the resource upgrade highlighted the world-class scale and economic development potential of Gabanintha.

Fry said: “A 39% increase to the measured and indicated component of the resource and the very large global high-grade resource position provides further confirmation of the exceptional quality of this vanadium deposit.

“Progression of the very important pilot plant scale test work on the bulk sample is the final building block for delivery of the high-quality definitive feasibility study.”

READ: Technology Metals Australia upgrades vanadium resource ahead of DFS

Overseeing the DFS is David English, who was appointed project director during the quarter.

English has extensive mine development experience in the Western Australia mining industry, including a period as general manager operations at the Windimurra Vanadium Project.

Wave International is managing the Gabanintha DFS, supported by a range of industry-leading consultants and overseen by English.

Pilot plant scale test work is being conducted on a sample from the North Pit area, with crushing, milling and magnetic beneficiation work completed.

The test work generated a magnetic concentrate for salt roast/kiln pilot plant testing to be undertaken this quarter.

READ: Technology Metals Australia secures $4.55 million in share placement

Financing activities were also taken by TMT during quarter-three 2019, with financial advisors Blackbird Commodity Partners / Bridge Street Capital Partners supporting the company through engagement with potential strategic investors as well as end-users and off-take partners.

The company views the recent decline in vanadium prices, exacerbated by seasonal demand factors in China, as supportive of continued growth in consumption and development of green fields projects such as Gabanintha.

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Mon, 29 Apr 2019 01:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219223/technology-metals-australia-aims-for-gabanintha-dfs-completion-in-mid-2019-engaging-in-financing-activities-219223.html
<![CDATA[Media files - Technology Metals Australia upgrades vanadium resource as DFS progresses ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13031/technology-metals-australia-upgrades-vanadium-resource-as-dfs-progresses-13031.html Tue, 16 Apr 2019 23:35:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13031/technology-metals-australia-upgrades-vanadium-resource-as-dfs-progresses-13031.html <![CDATA[News - Technology Metals Australia upgrades vanadium resource ahead of DFS ]]> https://www.proactiveinvestors.com.au/companies/news/217476/technology-metals-australia-upgrades-vanadium-resource-ahead-of-dfs-217476.html Technology Metals Australia Ltd (ASX:TMT) has upgraded the measured and indicated resource for the Northern Block by 39% to 30.1 million tonnes at 0.93% vanadium pentoxide.

The global resource for TMT’s Gabanintha Vanadium Project in Western Australia is now 131 million tonnes at 0.9% vanadium pentoxide after adding the resource estimate for the Southern Block.

Gabanintha Vanadium Project resource areas

The resource estimation was completed by geological consultants CSA Global based on data from TMT’s 2017 and 2018 reverse circulation (RC) and diamond drilling programs.

The 2018 resource infill and extension drilling program consisted of 45 holes for 6,730 metres across the Northern Block of tenements and the Southern Tenement, with a focus on expanding the indicated resource in the Northern Block of tenements.

Data from the bulk sample diamond drilling in the North Pit area (21 diamond drill holes for 1,483.4 metres) has also been used in the resource estimation.

Global resource for the Gabanintha Vanadium Project

Notably, the global resource of the project now includes an outstanding high-grade component of 71.2 million tonnes at 1.1% vanadium and 12.7% titanium contained within the consistently mineralised massive magnetite zone.

TMT managing director Ian Prentice said: “The significant increase to the indicated resource, a key component to support a material extension to the project mine life, and the substantial increase to the high grade portion of the resource, provides an indication of the potential very long tenor of this high quality globally significant vanadium project.”

READ: Technology Metals raises more than $4.5 million in share placement for Gabanintha DFS

Infill and extension resource drilling for the Southern Tenement was completed in the 2018 drilling program.

The results of the RC component of this drilling have been received, however with the company’s focus on the upgrade of the Northern Block resource, this data has not yet been incorporated into an updated Southern Tenement resource estimate.

The upgrade of the Southern Tenement resource will be completed in due course, which is expected to deliver a maiden indicated resource for this area and further expand the global resource.

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Fri, 29 Mar 2019 12:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217476/technology-metals-australia-upgrades-vanadium-resource-ahead-of-dfs-217476.html
<![CDATA[News - Technology Metals in trading halt ahead of Gabanintha vanadium resource update ]]> https://www.proactiveinvestors.com.au/companies/news/217286/technology-metals-in-trading-halt-ahead-of-gabanintha-vanadium-resource-update-217286.html Technology Metals Australia Ltd (ASX:TMT) is in a trading halt pending the release of a resource update for the Gabanintha Vanadium Project in WA.

The company says the trading halt will allow it to finalise technical and administrative aspects in relation to the resource update.

ASX has granted the halt which will remain in place until the start of normal trading on Friday, March 29, 2019, or when an announcement is released to the market, whichever occurs earliest.

READ: Technology Metals raises more than $4.5 million in share placement for Gabanintha DFS

Last month the company raised more than $4.5 million before costs in a share placement of 17,510,833 shares at 26 cents a share to advance the definitive feasibility study for the project.

The company's shares closed at 23.5 cents on Tuesday.

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Wed, 27 Mar 2019 14:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217286/technology-metals-in-trading-halt-ahead-of-gabanintha-vanadium-resource-update-217286.html
<![CDATA[News - Technology Metals raises more than $4.5 million in share placement for Gabanintha DFS ]]> https://www.proactiveinvestors.com.au/companies/news/215265/technology-metals-raises-more-than-45-million-in-share-placement-for-gabanintha-dfs-215265.html Technology Metals Australia Ltd (ASX:TMT) has raised more than $4.5 million before costs in a share placement of 17,510,833 shares at 26 cents a share.

The company will use funds raised to advance the definitive feasibility study (DFS) for its 100%-owned Gabanintha Vanadium Project in Western Australia.

Placement shares were issued to sophisticated and professional investors and included a free attaching option on a one-for-two basis exercisable at 40 cents on or before May 24, 2020.

An updated list of the top 20 shareholders was released to market today, indicating the group held 44.94% ownership, or 39,345,024 shares.

 

Technology Metals is working on a resource upgrade for Gabanintha as it targets mid-year delivery of its DFS.

Gabanintha’s global resource comprises 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the southern tenement.

In the company’s December quarterly, chairman Michael Fry said: “The DFS on the large, long-life, low-cost Gabanintha Vanadium Project is progressing extremely well.

“Delivery of very compelling metallurgical results, both vanadium product purity and base metal concentrate, [confirms] the very high quality of this world-class development project.

“The 2018 drilling program results are expected to support a material increase in the global resource for the project and more importantly, the indicated resource estimate.”

READ: Technology Metals preparing vanadium resource update ahead of mid-year DFS

The company released its pre-feasibility study for Gabanintha in June last year, valuing the project at $1.28 billion at a 10% discount.

The internal rate of return was 55% while mine life was estimated at 13 years, with a 3.4-year payback.

Speaking to Proactive Investors, company executive director Ian Prentice said the study had delivered a technically-strong and financially-robust project which was based on about 21 million tonnes of the company’s 120 million tonne resource.

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Mon, 25 Feb 2019 19:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215265/technology-metals-raises-more-than-45-million-in-share-placement-for-gabanintha-dfs-215265.html
<![CDATA[News - Technology Metals secures $4.55 million in share placement ]]> https://www.proactiveinvestors.com.au/companies/news/214757/technology-metals-secures-455-million-in-share-placement-214757.html Technology Metals Australia Ltd (ASX:TMT) has raised $4.55 million through the issue of 17.51 million shares priced at 26 cents in a fully subscribed share placement.

Placement shares will come with a one-for-two attaching option exercisable at 40 cents expiring 24 May 2020 – subject to approval from shareholders at an upcoming general meeting.

Funds will be used to advance the definitive feasibility study (DFS) on its 100% owned Gabanintha Vanadium Project in Western Australia.

TMT’s managing director Ian Prentice said: “We are very pleased to welcome new shareholders to the register and thank our existing shareholders for their ongoing support, with funds raised to be applied to the advancement of the high quality DFS on the world class large, long life, low cost Gabanintha Vanadium Project.

READ: Technology Metals Australia Ltd preparing vanadium resource update ahead of mid-year DFS

After recently receiving results from a 45-hole drilling program the company is preparing a resource update for the Gabanintha Vanadium Project.

This estimate, which will include base metals, will form part of the funded DFS for the project with completion of this expected by mid-2019.

Gabanintha’s current resource consists of 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the Southern Tenement.

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Mon, 18 Feb 2019 11:52:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214757/technology-metals-secures-455-million-in-share-placement-214757.html
<![CDATA[News - Technology Metals Australia in trading halt ahead of equity raising news ]]> https://www.proactiveinvestors.com.au/companies/news/214593/technology-metals-australia-in-trading-halt-ahead-of-equity-raising-news-214593.html Technology Metals Australia Ltd (ASX:TMT) (FRA:TN6) has been granted a trading halt by the ASX with news pending of an equity raising by way of a share placement.

The halt will remain in place until the start of ASX trading on Monday, February 18, 2019, or when an announcement is released to the market, whichever occurs earliest.

TMT’s shares last traded at 30 cents on Wednesday.

READ: Technology Metals Australia Ltd preparing vanadium resource update ahead of mid-year DFS

After receiving results from a 45-hole drilling program the company is preparing a resource update for the Gabanintha Vanadium Project in Western Australia.

This estimate, which will include base metals, will form part of a funded definitive feasibility study (DFS) for the project with completion of this expected by mid-2019.

Gabanintha’s current resource consists of 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the Southern Tenement.

READ: Technology Metals Australia bolsters executive team with development experience

TMT has this month strengthened its executive team, adding project development experience with the appointment of David English as project director for the Gabanintha project.

In this role, English will oversee progression of the DFS, which is being managed by Wave International supported by a range of industry leading consultants.

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Thu, 14 Feb 2019 11:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214593/technology-metals-australia-in-trading-halt-ahead-of-equity-raising-news-214593.html
<![CDATA[News - Technology Metals Australia bolsters executive team with development experience ]]> https://www.proactiveinvestors.com.au/companies/news/214316/technology-metals-australia-bolsters-executive-team-with-development-experience-214316.html Technology Metals Australia Ltd (ASX:TMT) has bolstered its executive team, adding project development experience through the appointment of David English as project director for Gabanintha Vanadium Project.

In this role, he will oversee progression of the project’s definitive feasibility study (DFS), which is being managed by Wave International supported by a range of industry leading consultants.

READ: Technology Metals Australia Ltd preparing vanadium resource update ahead of mid-year DFS

The DFS is on track for completion by mid-2019 with the company also working on a resource upgrade.

Managing director Ian Prentice said: “We are delighted that David has joined the management team, bringing vast project development knowledge and experience to our team as we rapidly progress the high-quality DFS on the world-class large, long-life, low-cost Gabanintha Vanadium Project.”

English has more than 30 years of mining industry experience across maintenance, operational and development roles, including in excess of 10 years in managerial and project development roles.

Independence and Sandfire roles

He has been involved in the development of Independence Group NL’s (ASX:IGO) Nova Nickel Project, progressing this through prefeasibility study, DFS, construction and commissioning.

Another feather in his cap was as project manager – construction for Sandfire Resources NL’s (ASX:SFR) successful DeGrussa copper project.

His most recent role was as project director for the Western Australia Lithium Pty Ltd joint venture that is developing the Mt Holland Earl Grey lithium deposit.

Vanadium industry experience

English has proven vanadium experience having served for two years from February 2008 as general manager operations at the Windimurra Vanadium Project.

In this role, he was involved in redeveloping the project, including environmental approvals and permitting, commissioning and project ramp-up.

READ: Technology Metals latest assay batch further confirms vanadium growth potential

Prentice said the experience and knowledge gained from his time at Windimurra would be invaluable as it was applied to the progression of the Gabanintha DFS and the subsequent development pathway.

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Mon, 11 Feb 2019 13:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214316/technology-metals-australia-bolsters-executive-team-with-development-experience-214316.html
<![CDATA[News - Technology Metals Australia Ltd preparing vanadium resource update ahead of mid-year DFS ]]> https://www.proactiveinvestors.com.au/companies/news/213938/technology-metals-australia-ltd-preparing-vanadium-resource-update-ahead-of-mid-year-dfs-213938.html Technology Metals Australia Ltd (ASX:TMT) (FRA:TN6) is tracking towards producing a definitive feasibility study (DFS) for its flagship Gabanintha Vanadium Project in Western Australia by mid-year after receiving all results from a 45-hole drilling program.

The company published its quarterly report to the market last week and highlighted it had made significant progress toward completing its feasibility study for what chairman Michael Fry called a “large long-life, low-cost development opportunity.”

WATCH: Technology Metals to have first base metals resource at Gabanintha Vanadium Project

Technology Metals Australia Ltd (ASX:TMT) executive director Ian Prentice spoke to the Proactive Investors Stocktube video channel in an interview aired this week, saying “we’ve hit the ground running with 2019.

“We’ve reported … our diamond drill results from the Northern Block of tenements and, as expected, it’s really confirmed the continuity of mineralisation.

“Some really good widths and grades coming out of that zone and from the resource upgrade potential.

“It shows our mineralisation does extend a long way at depth below existing resource boundaries.”

 

The company is working on a resource upgrade for Gabanintha, as it targets mid-year delivery of its funded DFS.

Gabanintha’s global resource consists of 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the Southern Tenement.

Global mineral resource estimate for the Gabanintha Vanadium Project on March 5

Prentice said, “All this drilling is now going to be incorporated into our resource upgrade.

“We’re also going to be putting out our first base metals resource following the test work we did and talked about back in December.

“The resource will be all-inclusive now, we’re expecting a good increase in our indicated resource component and we’ll have our maiden base metals resource coming out.”

Offtake and trading partner assessment

The company is preparing another batch of test work for market participants, including potential offtake partners and trading groups, after refinement work on a sub-sample delivered a vanadium pentoxide (V2O5) product with a purity of more than 99.7%.

The V2O5 product came from an ammonium metavanadate precipitate that recovered more than 98% of vanadium from a leach solution.

Prentice noted this week, “The high purity that we’re getting, we’ve talked about over 99.999% purity of V2O5, (is) very, very high purity from that product and (end users) want to see that for themselves, do their own test work on it.

“So it’s really key we’re going through … steps to get some of that product out to the marketplace.”

Technology Metals believes the five-nines quality and high purity of its results further confirm the suitability of Gabanintha vanadium product for the speciality chemical, battery and aeronautical industries.

READ: Technology Metals test work further improves vanadium purity

In the company’s December quarter report, the chairman wrote: “The definitive feasibility study on the large long-life, low-cost Gabanintha Vanadium Project is progressing extremely well with delivery of very compelling metallurgical results, both vanadium product purity and base metal concentrate, confirming the very high quality of this world-class development project.

“The 2018 drilling program results are expected to support a material increase in the global resource for the project and more importantly, the indicated resource estimate.”

A timeline for producing the Gabanintha DFS by mid-year

In the report, the company noted vanadium prices had stabilised at US$16-17 a pound after a seasonal decline from highs of US$30 a pound, driven by tight supply and demand growth from China’s new Rebar standards.

READ: Technology Metals latest assay batch further confirms vanadium growth potential

Technology Metals released results from the third and last batch of assays from Gabinintha last Wednesday.

The latest batch of assays highlights the continuity of high-grade vanadium mineralisation along strike and down-dip at the Northern Block.

Prentice told the market the Northern Block results “further highlight the scope to materially increase the indicated resource component of this globally significant vanadium project, with a flow-on to an expected material increase in the project reserve as part of the rapidly progressing high-quality DFS.”

Technology Metals’ goal with drilling was to infill and extend the Northern Block resource and its estimate in the North and Central pit areas.

Highlights from third batch results included 16.5 metres grading 1.0% vanadium oxide from 166 metres, 14 metres grading 1.21% vanadium oxide from 156 metres and 15.5 metres grading 1.22% vanadium oxide from 16 metres.

Highlights from the last batch of Gabinintha project results

Drilling has confirmed the consistency of grade and width of the broad zones of basal massive magnetite mineralisation both along strike and down dip.

It extended the mineralisation more than 300 metres south of the Gabinintha Central Pit resource and at vertical depths of up to 190 metres.

The high-grade basal massive magnetite mineralisation is open along the full strike length of North Pit and Central Pit.

Open mineralisation at Gabinintha

The first two batches were reported on in November and December.

READ: Technology Metals’ first batch of vanadium drill results support expansion potential

Highlights from the first batch of drilling included depth extension intersections of 25-50 metres down dip from 14 metres at 1.17% vanadium and more than 300-metre strike extensions from 16 metres at 1.26% vanadium.

Mineralisation had been found in every Southern Tenement hole.

Highlights from the first batch of drilling, from November

READ: Technology Metals second batch of results confirms vanadium extensions at Gabanintha project

In December, highlights from the second batch of results included A Central Pit extension RC hole returned a 61-metre intersection from 140 metres at 0.84% vanadium pentoxide, including 13 metres at 1.18% from 148 metres and 17 metres at 1.02% from 176 metres.

High-grade intersections from Central Pit in Northern Block, reported in December

An initial depth extension diamond hole in the North Pit returned 13 metres at 1.13% V2O5 from 144 metres.

High-grade intersections from North Pit in Northern Block

Another aim of drilling was to provide geotechnical data, in particular for the footwall portions of the designed open pits designed in the pre-feasibility study (PFS), to allow steepening of the designed open pit walls to decrease the project’s overall strip ratio.

A drill collar location plan for the Northern Block of tenements

Pre-feasibility study

Technology Metals released its PFS for Gabanintha project in June, valuing the project at $1.28 billion at a net present value (NPV) calculated at a 10% discount.

The internal rate of return was 55% while the mine life was estimated at 13-years, with a 3.4-year payback.

FLASHBACK: Technology Metals PFS Results forecast billion dollar vanadium project

Prentice spoke to Stocktube at the time about the milestone achievement.

He said, “A lot of engineering and a lot of detailed metallurgical work has gone into the study, and it’s delivered a very technically-strong, financially-robust project."

He noted the study was based on about 21 million tonnes of the company’s 120 million tonne resource.

Funding and market listings

Technology Metals’ latest exploration efforts and DFS has been funded by a $6 million placement to sophisticated and strategic investors completed in October.

Twelve million new shares had been added to those on issue, to put 70.1 million shares in circulation by October 5.

An earlier oversubscribed placement to institutions and strategic high-net-worth individuals had been completed in March and raised $3 million.

Technology Metals was admitted to the Australian Securities’ Exchange in December 2016 and joined the Frankfurt Stock Exchange in May 2017.

Quarterly results

Technology Metals used $4.4 million on operating activities in the December quarter, including $4.3 million for exploration and evaluation.

The company had $5.6 million net cash from financing activities to end the period with $3 million and no debt.

Technology Metals is expecting $2.9 million of cash outflows in the March quarter as it updates its resource statement and works on its DFS.

Major shareholders

The company’s top 20 shareholders had 47.4% of the company on January 30.

— with Danielle Doporto, Tharun George, John Miller

 

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Mon, 04 Feb 2019 20:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213938/technology-metals-australia-ltd-preparing-vanadium-resource-update-ahead-of-mid-year-dfs-213938.html
<![CDATA[Media files - Technology Metals to have first base metals resource at Gabanintha Vanadium Project ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12084/technology-metals-to-have-first-base-metals-resource-at-gabanintha-vanadium-project-12084.html Mon, 04 Feb 2019 11:33:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12084/technology-metals-to-have-first-base-metals-resource-at-gabanintha-vanadium-project-12084.html <![CDATA[News - Technology Metals latest assay batch further confirms vanadium growth potential ]]> https://www.proactiveinvestors.com.au/companies/news/213558/technology-metals-latest-assay-batch-further-confirms-vanadium-growth-potential-213558.html Technology Metals Australia Ltd (ASX:TMT) has received the remaining diamond drilling results from the Northern Block of tenements at its Gabanintha Vanadium Project in Western Australia.

The resource infill and extension program was designed to infill and extend the Northern Block resource estimate in the North and Central pit areas.

The latest batch of assays highlights the continuity of high-grade vanadium mineralisation along strike and down-dip at the Northern Block.

Results from this drill program will be used in the ongoing definitive feasibility study (DFS) due for delivery in mid-2019.

READ: Technology Metals confirms vanadium extensions at Gabanintha project

TMT’s managing director Ian Prentice said: “The results of these diamond drill holes at the Northern Block of tenements at Gabanintha further highlight the scope to materially increase the Indicated Resource component of this globally significant vanadium project, with a flow on to an expected material increase in the project reserve as part of the rapidly progressing high-quality DFS.”

This batch of assays accounts for the balance of the diamond drill holes completed in the Northern Block of tenements yet to be released.

Highlights included 16.5 metres at 1.0% vanadium oxide from 166 metres, 14 metres at 1.21% vanadium oxide from 156 metres and 15.5 metres at 1.22% vanadium oxide from 16 metres.

Drilling has confirmed the consistency of grade and width of the broad zones of basal massive magnetite mineralisation both along strike and down dip.

It has extended the mineralisation in excess of 300 metres south of the Central Pit resource and at vertical depths of up to 190 metres.

The high grade basal massive magnetite mineralisation remains open along the full strike length of the North Pit and Central Pit areas.

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Wed, 30 Jan 2019 11:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213558/technology-metals-latest-assay-batch-further-confirms-vanadium-growth-potential-213558.html
<![CDATA[Media files - Technology Metals advancing Gabanintha project DFS with drilling and met testing ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11685/technology-metals-advancing-gabanintha-project-dfs-with-drilling-and-met-testing-11685.html Fri, 21 Dec 2018 15:11:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11685/technology-metals-advancing-gabanintha-project-dfs-with-drilling-and-met-testing-11685.html <![CDATA[News - Technology Metals confirms vanadium extensions at Gabanintha project ]]> https://www.proactiveinvestors.com.au/companies/news/211531/technology-metals-confirms-vanadium-extensions-at-gabanintha-project-211531.html Technology Metals Australia Ltd’s (ASX:TMT) project enhancement drilling has confirmed extensions of high-grade vanadium mineralisation at the Gabanintha Vanadium Project in Western Australia.

The 45-hole, 6,730-metre diamond and reverse circulation (RC) program demonstrated continuity of high-grade mineralisation along strike and down dip.

It has infilled and extended defined vanadium mineralisation as part of an ongoing definitive feasibility study (DFS) at the project.

READ: Technology Metals vanadium drill results support expansion potential

TMT’s managing director Ian Prentice said: “Gabanintha drilling results continue to confirm the strength of this globally significant vanadium project.”

He said a material increase to the global resource, and more importantly the indicated resource component was expected early in 2019 “as part of the rapidly progressing high-quality DFS”.

There were nine diamond holes in the North Pit area, eight diamond holes and 16 RC holes in the Central Pit area, and four diamond holes and eight RC holes in the Southern Tenement.

The aim was to infill and extend the Northern Block resource estimate in the North and Central pit areas, including increasing the indicated resource and probable reserve categories.

High-grade intersections – North Pit, Northern Block.

TMT also intends to upgrade part of the Southern Tenement inferred resource estimate to the indicated category.

High-grade Central Pit result

A Central Pit extension RC hole returned a 61-metre intersection from 140 metres at 0.84% vanadium pentoxide, including 13 metres at 1.18% from 148 metres and 17 metres at 1.02% from 176 metres.

An initial depth extension diamond hole in the North Pit returned 13 metres at 1.13% V2O5 from 144 metres.

High-grade intersections – Central Pit, Northern Block.

Also, in North Pit infill diamond holes confirmed very shallow weathering and low oxidation levels.

The drilling was also aimed at providing geotechnical data, in particular for the footwall portions of the designed PFS open pits, to provide data to enable steepening of the designed open pit walls, thereby decreasing overall strip ratio.

Drill collar location plan, Northern Block of tenements.

READ: Technology Metals test work improves purity of vanadium further

It has also generated additional bulk diamond core samples for ongoing metallurgical test work, including testing by proposed process plant equipment suppliers.

The detailed, high-quality DFS for the Gabanintha project is progressing well and the company said it was on track for delivery in the June quarter of 2019.

Global mineral resource estimate for the Gabanintha Vanadium Project as at March 5, 2018.

Ongoing DFS activities

Ongoing activities in support of the DFS include:

- Updating the global mineral resource, including the indicated portion of the resource;

- Revising the PFS open pit mine designs incorporating updated geotechnical data;

- Updating mine scheduling based on detailed geometallurgical data;

- Provide an updated ore reserve estimate within the expanded mineral resource;

- Processing plant 3D modelling and layout progressing on schedule;

- Major process plant equipment requests for quote packages either sent out to preferred vendors or under final evaluation; and

- Revised capital and operating cost estimates to a DFS level of accuracy and an updated project financial model.

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Thu, 20 Dec 2018 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211531/technology-metals-confirms-vanadium-extensions-at-gabanintha-project-211531.html
<![CDATA[News - Technology Metals test work improves purity of vanadium further ]]> https://www.proactiveinvestors.com.au/companies/news/211008/technology-metals-test-work-improves-purity-of-vanadium-further-211008.html Technology Metals Australia Ltd (ASX:TMT) has received results from more metallurgical test work on samples from the Gabanintha Vanadium Project in Western Australia.

Refinement work on a sub-sample delivered a vanadium pentoxide (V2O5) product with a purity in excess of 99.7%.

The V2O5 product came from an ammonium metavanadate precipitate that recovered over 98% of vanadium from a leach solution. 

This high purity further confirms the suitability of Gabanintha vanadium product for the speciality chemical, battery and aeronautical industries.

READ: Technology Metals vanadium drill results support expansion potential

Preliminary base metal recovery test work delivered highly encouraging flotation concentrates with a combined base metal content of 10% to 15%, containing up to 2.31% cobalt, 4.47% nickel and 9.50% copper.

This test work focused on the non-magnetic (tailings) fraction from the magnetic separation process.

Notably, significant scope exists to optimise the base metal recovery into a concentrate product.

TMT’s managing director Ian Prentice said: “Improvement on the already high purity V2O5 product following a simple refinement step underscores the very high quality of the World class Gabanintha deposit; whilst the ability to produce a high grade base metal concentrate from a the non-magnetic tailings stream has potential to be a significant bonus for the project.”

Work at the project continues

The company noted that the definitive feasibility study (DFS) is progressing well and remains on track for delivery in the June quarter of 2019.

Ongoing activities in support of the DFS include:

• Updating the global Mineral Resource, including the Indicated portion of the Resource;
• Revising the PFS open pit mine designs incorporating updated geotechnical data;
• Updating mine scheduling based on detailed geometallurgical data;
• Provide an updated ore reserve estimate within the expanded global Mineral Resource, and
• Provide revised capital and operating cost estimates to a DFS level of accuracy and an updated Project financial model.

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Wed, 12 Dec 2018 10:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211008/technology-metals-test-work-improves-purity-of-vanadium-further-211008.html
<![CDATA[Media files - Technology Metals advancing offtake discussions whilst working to expand resource ]]> https://www.proactiveinvestors.com.au/companies/stocktube/11161/technology-metals-advancing-offtake-discussions-whilst-working-to-expand-resource-11161.html Mon, 12 Nov 2018 13:36:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/11161/technology-metals-advancing-offtake-discussions-whilst-working-to-expand-resource-11161.html <![CDATA[News - Technology Metals vanadium drill results support expansion potential ]]> https://www.proactiveinvestors.com.au/companies/news/208783/technology-metals-vanadium-drill-results-support-expansion-potential-208783.html Technology Metals Australia Ltd (ASX:TMT) has received drill results from its stage I drill program at its Gabanintha Vanadium Project in Western Australia.

The 28-hole, 3,714-metre reverse circulation (RC) program aimed to infill and extend the current JORC resource spread across the Northern Block and Southern Tenement areas.

Significantly, the program has been successful in both infilling and extending the defined vanadium mineralisation.

Highlights include depth extension intersections of 25-50 metres down dip from 14 metres at 1.17% vanadium and 300+ metre strike extensions from 16 metres at 1.26% vanadium. 

READ: Technology Metals Australia concludes stage I project enhancement drilling at Gabanintha

Technology Metals’ managing director Ian Prentice said: “The results of the RC drilling from the stage I enhancement drilling program have delivered exceptional strike continuity, and down dip extension, of the massive magnetite mineralisation.

“These results are expected to materially increase the Global Resource and more importantly the Indicated Resource component, of this globally significant vanadium project.”

The current global resource consists of 98.4 million tonnes at 0.8% vanadium in the Northern Block and 21.5 million tonnes at 0.9% vanadium in the Southern Tenement.

Assays from Northern Block confirm extension potential

The 28 hole program comprised 16 holes in the Central Pit area and4 holes in the North Pit area, both in the Northern Block – and 8 holes in the Southern Tenement.

Results from the Central Pit area confirm consistency of grade and width of the high-grade mineralisation along strike and down-dip.

Drilling also intersected mineralisation 25-50 metres down-dip from the existing resource and over 300 metres along strike to the south.

The four holes at North Pit were pre-collars for deeper diamond holes but notably, two of the holes intersected vanadium including 15 metres at 0.94% vanadium from 127 metres.

Mineralisation in every hole at Southern Tenement

RC drilling on the Southern Tenement was designed to infill to 100-metre line spacing along the majority of the strike length of the mineralisation.

The RC infill drilling was successful in intersecting the high-grade massive vanadium magnetite mineralisation in every hole.

Diamond drill results pending, more RC drilling planned

All diamond core from the diamond drilling holes completed in the North and Central pit areas of the Northern Block has been sent to the lab for assays.

Sections of the drill core will also be used for metallurgy test work.

Processing of diamond core from the Southern Tenement will occur once all of the Northern Block core has been processed.

An additional program of RC drilling is also scheduled to commence this week focused on water assessment and mine site location suitability.

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Thu, 08 Nov 2018 11:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208783/technology-metals-vanadium-drill-results-support-expansion-potential-208783.html
<![CDATA[Media files - Technology Metals Australia progressing Gabanintha project DFS on multiple fronts ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10776/technology-metals-australia-progressing-gabanintha-project-dfs-on-multiple-fronts-10776.html Tue, 09 Oct 2018 10:11:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/10776/technology-metals-australia-progressing-gabanintha-project-dfs-on-multiple-fronts-10776.html <![CDATA[News - Technology Metals Australia concludes stage I project enhancement drilling at Gabanintha ]]> https://www.proactiveinvestors.com.au/companies/news/206437/technology-metals-australia-concludes-stage-i-project-enhancement-drilling-at-gabanintha-206437.html Technology Metals Australia Ltd (ASX:TMT) has concluded stage I project enhancement drilling at its Gabanintha Vanadium Project in Western Australia.

The drilling program targeted infill and depth extension of the mineral resource in support of the ongoing definitive feasibility study (DFS).

Technology Metals’ drilling consisted of 6,730 metres of reverse circulation (RC) and diamond drilling across 45 holes.

Notably, the drilling was extremely successful in both infilling and extending the defined mineralisation, with all holes targeting the resource intersecting broad zones of the basal massive magnetite mineralisation.

Cross section through the Central Pit demonstrates the extension of the basal massive magnetite mineralisation beyond the previous extent of drilling

Geotechnical data from the diamond drilling completed in the stage I program is being collated, reviewed and analysed by Technology Metals’ geotechnical consultants.

The outcomes of this work will be incorporated into updated open pit mine designs as the DFS progresses.

Bulk sample generation drilling

Large diameter diamond drilling designed to generate bulk sample for process plant equipment vendors and large scale metallurgical test work as part of the DFS commenced on September 22, 2018.

This drilling is expected to be completed by mid-October 2018, with the samples to then be composited and prepared prior to delivery to process plant equipment vendors, including potential roasting kiln suppliers.

READ: Technology Metals Australia secures $6 million for vanadium project

Technology Metals recently completed a capital raising to enable the company to maintain momentum and focus on the work required for the completion of the DFS.

Vanadium prices surging higher

Technology Metals has commodity price tailwinds at its back with the vanadium price recently breaking out above US$22 per pound for V2O5 vanadium pentoxide flake 98%.

Given the company has achieved an impressive high-purity 99.53% vanadium pentoxide in recent Gabanintha test work, it is leveraged to this price momentum.

Although vanadium is traditionally used to harden steel, vanadium flow batteries are becoming increasingly popular especially for commercial energy storage, most notably in China.

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Fri, 05 Oct 2018 11:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/206437/technology-metals-australia-concludes-stage-i-project-enhancement-drilling-at-gabanintha-206437.html
<![CDATA[News - Technology Metals Australia secures $6 million for vanadium project ]]> https://www.proactiveinvestors.com.au/companies/news/205926/technology-metals-australia-secures-6-million-for-vanadium-project-205926.html Technology Metals Australia Ltd (ASX:TMT) has secured $6 million in funding through the placement of 12 million shares priced at 50 cents to sophisticated and institutional investors.

Funds raised will be used to advance the definitive feasibility study (DFS) on the company’s 100% owned Gabanintha Vanadium Project and for additional exploration activities.

Technology Metals’ managing director Ian Prentice said: “This is a particularly pleasing outcome for the company with the calibre of institutional and high net worth investors that have joined the register having the capacity to add value and contribute to the company as we progress the development of one of the highest grade, best quality, large scale vanadium projects in the World in a period of tightening vanadium supplies.”

READ: Technology Metals Australia produces 99.53% purity vanadium in tests of Gabanintha ore

The Gabanintha Vanadium Project is located 40 kilometres southeast of Meekatharra in the mid-west region of Western Australia.

It aims to develop this project to potentially supply high-quality V2O5 flake product to the steel market and the emerging vanadium redox battery (VRB) market.

Vanadium prices surging higher

Technology Metals has commodity price tailwinds at its back with the vanadium price recently breaking out above US$20 per pound for V2O5 vanadium pentoxide flake 98%.

Given, Technology Metals has achieved an impressive high purity 99.53% vanadium pentoxide in recent Gabanintha test work, it is leveraged to this price momentum.

Although vanadium is traditionally used to harden steel, vanadium flow batteries (VRFBs) are becoming increasingly popular especially for commercial energy storage, most notably in China.

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Fri, 28 Sep 2018 11:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205926/technology-metals-australia-secures-6-million-for-vanadium-project-205926.html
<![CDATA[News - Technology Metals Australia granted trading halt pending news of equity raising ]]> https://www.proactiveinvestors.com.au/companies/news/205697/technology-metals-australia-granted-trading-halt-pending-news-of-equity-raising-205697.html Technology Metals Australia Ltd (ASX:TMT) has been granted a trading halt by the ASX pending a proposed equity raising by way of a share placement.

The halt will remain in place until the start of trading on Friday, September 28, or when an announcement is released to the market, whichever occurs earliest.

Technology Metals shares last traded at 61.5 cents at close on Monday.

The company’s primary exploration focus is on the Gabanintha Vanadium Project 40 kilometres southeast of Meekatharra in the Mid-West region of Western Australia.

It aims to develop this project to potentially supply high-quality V2O5 flake product to the steel market and the emerging vanadium redox battery (VRB) market.

READ: Technology Metals Australia produces 99.53% purity vanadium in tests of Gabanintha ore

Technology Metals has achieved an impressive high purity 99.53% vanadium pentoxide (V2O5) in recent Gabanintha test work.

Initial product generation tests confirmed that the project is amenable to producing very high purity V2O5 using conventional salt roast/water leach processing.

This method has relatively low reagent consumption and does not require additional costly contaminant removal steps.

The work was based on representative samples of the high-grade massive magnetite zone from diamond drilling completed in 2017.

READ: Technology Metals Australia drilling supports proposed mine plan at Gabanintha

Stage I drilling completed at the project as part of a definitive feasibility study has supported the proposed mine plan.

Resource extension stage I drilling in the North Pit area comprised nine diamond and reverse circulation holes for 1,659 metres.

The holes targeted depth extensions to the JORC resource and will also provide geotechnical data for mine planning and samples for metallurgical test work.

Drilling at other areas in the project is expected to be finished this month with assay results available in October.

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Wed, 26 Sep 2018 11:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205697/technology-metals-australia-granted-trading-halt-pending-news-of-equity-raising-205697.html
<![CDATA[Media files - Technology Metals Australia progressing Gabanintha with drilling and test work ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10459/technology-metals-australia-progressing-gabanintha-with-drilling-and-test-work-10459.html Thu, 13 Sep 2018 11:15:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10459/technology-metals-australia-progressing-gabanintha-with-drilling-and-test-work-10459.html <![CDATA[News - Technology Metals Australia produces 99.53% purity vanadium in tests of Gabanintha ore ]]> https://www.proactiveinvestors.com.au/companies/news/204688/technology-metals-australia-produces-9953-purity-vanadium-in-tests-of-gabanintha-ore-204688.html Technology Metals Australia Ltd (ASX:TMT) has achieved an impressive high purity 99.53% vanadium pentoxide (V2O5) in test work from the Gabanintha Vanadium Project in Western Australia.

Initial product generation tests have confirmed that the project is amenable to producing very high purity V2O5 using conventional salt roast/water leach processing.

This method has relatively low reagent consumption and does not require additional costly contaminant removal steps.

“Very exciting achievement”

Managing director Ian Prentice said, “To achieve greater than 99.5% purity of V2O5 product from this phase of test work is a very exciting achievement for the company.

“I look forward to presenting these results to interested parties during my current visit to China.”

Shares are up almost 14% intra-day to 59.5 cents.

 

Initial production generation test work was conducted by ALS Metallurgy Services under the supervision of metallurgical consultant METS Engineering Group Pty Ltd and was designed to generate final product for end-users.

The work was based on representative samples of the high-grade massive magnetite zone from diamond drilling completed in 2017.

It involved the precipitation of ammonium metavanadate and subsequent generation of high purity V2O5 from a composite sample of around 60 kilograms of high-grade massive magnetite mineralisation.

READ: Technology Metals Australia drilling supports proposed mine plan at Gabanintha

The precipitate recovered greater than 98% of vanadium from a leach solution generated from salt roasting of the magnetic concentrate from Gabanintha.

Both the solution and final product produced from this work are regarded as extremely clean and low in solution impurities.

Amenable to salt roast/water leach processing

Work has shown that magnetic concentrates produced from all zones of the massive magnetite and the fresh disseminated magnetite are amenable to conventional salt roast/water leach processing.

Magnetic concentrates delivered very high vanadium recoveries and rejection of gangue minerals from high-grade fresh and transition material and disseminated medium-grade fresh material.

Sub-samples of the high purity V2O5 have been dispatched to a range of potential vanadium end-users to be independently assessed for relevant applications.

High purity 99.53% V2O5 sub-samples packaged for dispatch to potential end-users.

This is initially targeting the steel market as well as the emerging vanadium redox flow battery (VRB) sector.

The very high purity achieved also underscores the opportunity to target the speciality chemical and aeronautical industries, thereby providing scope to attract substantial premiums to the 98% V2O5 pricing index.

DFS progresses

Technology Metals is making significant progress with a definitive feasibility study (DFS) for Gabanintha and is on track to deliver it in the June quarter of 2019.

The DFS includes drilling aimed at expanding the indicated mineral resource within the global mineral resource estimate of 119.9 million tonnes at 0.8% V2O5 and 9.7% titanium dioxide (TiO2).

Within this is an ore reserve of 16.7 million tonnes at 0.96% V2O5 for 160,000 contained tonnes.

READ: Technology Metals Australia’s new tenement adds to billion-dollar vanadium potential

The team of experienced industry expert consultants is focused on delivering a high-quality outcome in a time frame to support rapid development of the project.

This team is being managed by Wave International as lead consultant supported by a range of industry leading consultants including METS Engineering, CSA Global and Integrate Sustainability.

DFS schedule

Work completed to date includes:

- Progression of metallurgical test work, including work on generation of final product sample to provide to potential offtake partners; - Investigation of local process water solutions; - Progression of environmental and heritage studies in support of advancing mining lease grant and statutory approvals; - Ongoing development of detailed process flow diagrams; - Progress process plant engineering and design; - Engineering concept designs for crushing circuit and stockpiling; - Progression of development of site infrastructure layout plans; - Commencement of design development for non-process infrastructure; and - Issue of tenders for process plant vendor test work services.

The Gabanintha project is 40 kilometres southeast of Meekatharra in the mid-west region of Western Australia.

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Wed, 12 Sep 2018 11:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204688/technology-metals-australia-produces-9953-purity-vanadium-in-tests-of-gabanintha-ore-204688.html
<![CDATA[News - Technology Metals Australia drilling supports proposed mine plan at Gabanintha ]]> https://www.proactiveinvestors.com.au/companies/news/204392/technology-metals-australia-drilling-supports-proposed-mine-plan-at-gabanintha-204392.html Technology Metals Australia Ltd (ASX:TMT) has completed stage I drilling, further progressing its definitive feasibility study (DFS) at its Gabanintha Vanadium Project in Western Australia.

Resource extension stage I drilling in the North Pit area comprised of 9 diamond and reverse circulation (RC) holes for a total of 1,659 metres.

The holes targeted depth extensions to the JORC resource and also will provide geotechnical data for mine planning and samples for metallurgical test work.

Drilling continues at other areas in the project with and expects to be finished by this month with assay results available in October.

READ: Technology Metals Australia kicks off DFS and follow-up drilling

TMT’s managing director Ian Prentice said: “The stage I drilling data has confirmed our belief in the importance of the North Pit in the overall development of the Gabanintha Vanadium Project, with the acquisition of the Royalty over this area very positive for the planned development of this globally significant vanadium project.”

Royalty acquired boosting project economics

TMT has also completed the acquisition of the 1.5% net profit interest over two tenements that cover the proposed North Pit and associated supporting infrastructure.

The consideration for the acquisition consists of fully paid TMT shares upon the satisfaction of a number of milestones.

The acquisition of the royalty is positive for the future mine development, and enhances the economics, of the project.

Early indications positive for mine plan

All holes intersected broad zones of high-grade massive magnetite mineralisation at downhole depths of up to 195 metres.

Drilling has confirmed the very shallow oxidation profile providing early access to high yielding, high-grade mineralisation and potential for steeper pit walls.

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Fri, 07 Sep 2018 11:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204392/technology-metals-australia-drilling-supports-proposed-mine-plan-at-gabanintha-204392.html
<![CDATA[News - Technology Metals Australia kicks off DFS and follow-up drilling ]]> https://www.proactiveinvestors.com.au/companies/news/202427/technology-metals-australia-kicks-off-dfs-and-follow-up-drilling-202427.html Technology Metals Australia Ltd (ASX:TMT) has commenced a definitive feasibility study (DFS) at its Gabanintha Vanadium Project in Western Australia.

The DFS commenced on 31 July 2018 and advances upon the recently completed successful pre-feasibility study (PFS) that highlighted a $850 million post-tax valuation.

READ: Technology Metals Australia’s new tenement adds to billion-dollar vanadium potential

Furthermore, the stage I drilling program has also commenced which is designed to deliver geotechnical data, extend the JORC resource, and provide metallurgical test work samples.

The 6,600-metre program will consist of 2,700 metres of diamond drilling and 3,900 metres of reverse circulation (RC) drilling.

TMT’s managing director Ian Prentice said: “This is a very exciting time for the company as we transition from the outstanding PFS result into the DFS stage, aimed at rapidly progressing this globally significant vanadium project along the development pathway.”

High-quality team of consultants

The DFS is being managed and lead by Wave International, an independent resource development and engineering consultant.

Wave will be supported by METS Engineering, CSA Global and Integrate Sustainability.

The DFS is scheduled for completion in the June quarter or 2019.

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Wed, 08 Aug 2018 11:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202427/technology-metals-australia-kicks-off-dfs-and-follow-up-drilling-202427.html
<![CDATA[News - Technology Metals Australia’s new tenement adds to billion-dollar vanadium potential ]]> https://www.proactiveinvestors.com.au/companies/news/200427/technology-metals-australias-new-tenement-adds-to-billion-dollar-vanadium-potential-200427.html Technology Metals Australia Ltd (ASX:TMT) has acquired additional tenure adjacent to the Northern Block of tenements at its 100%-owned Gabanintha Vanadium Project in Western Australia.

The company’s recently completed pre-feasibility study (PFS) was based on the Northern Block indicated resource of 21.6 million tonnes at 0.9% vanadium pentoxide (V2O5).

READ: Technology Metals Australia PFS results forecast billion dollar vanadium project

Technology Metals’ PFS confirmed the project as a high-value, relatively low-risk and technically strong project.

Using a 10% discount rate, the project’s pre-tax net present value (NPV) has been estimated at $1.27 billion based on a 13-year mine life, which has good potential to be extended.

The newly acquired tenement covers an area of 109.2 hectares and adjoins the Northern Block to the west of the proposed Main Pit.

This tenement acquisition provides the company with a high degree of optionality with regard to the development of the project.

It also provides scope for a more centrally located processing plant and/or additional areas for the location of waste/ low-grade ore stockpiles and other associated infrastructure.

Proposed mine based on small portion of JORC resource

The PFS proposed mining operation is based on the ore reserve of 16.7 million tonnes at a mined grade of 0.96% V2O5.

Notably, the total Gabanintha Project comprises a global indicated and inferred resource of 119.9 million tonnes at 0.8% V2O5.

Progressing to definitive feasibility study

A range of development options incorporating the additional landholding will be fully investigated during the definitive feasibility study (DFS).

Planning for the DFS is well underway, with the level of detail and high quality of the PFS enabling a rapid transition to the DFS, which will commence in the current quarter.

Technology Metals managing director Ian Prentice said: “This strategic tenement acquisition provides a high level of optionality and flexibility to the Gabanintha project as we progress through the next stage on the pathway to developing this globally significant vanadium deposit.”

Vanadium market in deficit

Consumption in 2017 (about 85,800 tonnes of vanadium metal) was dominated by steel alloys (86%) with chemical industry and energy storage at 9% and aeronautical at 5%.

Global industry rationalisation, strict environmental regulations in China and limited new supply has resulted in a production decline for vanadium.

 

The global deficit is forecast to increase to about 28,500 tonnes V2O5 in 2021 and about 39,300 tonnes V2O5 in 2023.

Furthermore, vanadium redox batteries (VRB’s) are emerging as an efficient storage and re-supply solution for renewable energy, suitable for large-scale applications.

VRB and chemical industry vanadium demand is set to climb to 23,730 tonnes of vanadium metal by 2020 and is expected to lead to a sustained increase in the metal price.

 

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Thu, 12 Jul 2018 10:55:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200427/technology-metals-australias-new-tenement-adds-to-billion-dollar-vanadium-potential-200427.html
<![CDATA[Media files - Technology Metals Australia leveraged to growth of vanadium flow battery markets ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9827/technology-metals-australia-leveraged-to-growth-of-vanadium-flow-battery-markets-9827.html Thu, 12 Jul 2018 09:59:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9827/technology-metals-australia-leveraged-to-growth-of-vanadium-flow-battery-markets-9827.html <![CDATA[Media files - Technology Metals Australia persuing upside at Gabanintha beyond $1b+ PFS ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9682/technology-metals-australia-persuing-upside-at-gabanintha-beyond-1b-pfs-9682.html Mon, 25 Jun 2018 10:33:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9682/technology-metals-australia-persuing-upside-at-gabanintha-beyond-1b-pfs-9682.html <![CDATA[News - Technology Metals Australia PFS results forecast billion dollar vanadium project ]]> https://www.proactiveinvestors.com.au/companies/news/199277/technology-metals-australia-pfs-results-forecast-billion-dollar-vanadium-project-199277.html Technology Metals Australia Ltd (ASX:TMT) has received the results from its pre-feasibility study (PFS) on its 100% owned Gabanintha Vanadium Project in Western Australia.

The study confirms the project as a high-value, relatively low-risk and technically strong project.

Using a 10% discount rate, the project’s pre-tax net present value (NPV) has been estimated at $1.27 billion based on a 13-year mine life, which has good potential to be extended.

Direct progression to definitive feasibility study

Given the positive PFS results, the company’s ongoing activities are now focused on the immediate progression to preparation of a definitive feasibility study (DFS).

TMT’s managing director Ian Prentice said: “This is an outstanding result for the technically robust, extremely high-quality Gabanintha Project in a vanadium market environment that is desperate for injection of new production, with considerable upside expected from the work to be completed during the upcoming definitive feasibility study.”

Increasing the mine life and project economics further

The company believes that there is significant opportunity to enhance the results of the PFS through upgrading more of the Inferred resources to the Indicated category.

This would increase the mine life and therefore likely increase the project’s valuation.

Other value enhancement opportunities include lowering the strip ratio through steeper wall angles and optimising the mine plan through a staged development.

Proposed mine based on small portion of JORC resource

The PFS proposed mining operation is based on the Ore Reserve of 16.7 million tonnes at a mined grade of 0.96% vanadium pentoxide (V2O5).

This Ore Reserve is contained within the defined Indicated resource of 21.6 million tonnes at 0.9% V2O5 in the Northern Block of tenements.

Notably, the total Gabanintha Project comprises a global Indicated and Inferred resource of 119.9 million tonnes at 0.8% V2O5.

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Thu, 21 Jun 2018 15:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199277/technology-metals-australia-pfs-results-forecast-billion-dollar-vanadium-project-199277.html
<![CDATA[News - Technology Metals Australia’s shares rise after vanadium resource upgrade ]]> https://www.proactiveinvestors.com.au/companies/news/192734/technology-metals-australias-shares-rise-after-vanadium-resource-upgrade-192734.html Technology Metals Australia Ltd (ASX:TMT) has upgraded the resource estimate for its Gabanintha project in Western Australia to 119.9 million tonnes at 0.8% vanadium pentoxide and 9.7% titanium dioxide.

This includes a high-grade resource of 55 million tonnes at 1.1% vanadium pentoxide.

The upgrade in the total resource at Gabanintha was enabled by a 57% increase in resource at the Northern Block to 98.4 million tonnes at 0.8% vanadium pentoxide.

It is worth noting that the Northern Block tenements are contiguous with the northern extent of Australian Vanadium’s (ASX:AVL) Gabanintha project resource and conceptual open pit.

READ: Technology Metals Australia tests deliver high vanadium recoveries

The company recently delivered exceptional vanadium recoveries of up to 97.8% from its Gabanintha project, confirming the high-quality nature of the project.

Tests also delivered weight recoveries of up to 85.6% at a grind size of 106 microns and concentrate grades exceeding 1.3% vanadium pentoxide.

Emerging potential for vanadium in the battery sector

The main use of vanadium is in the steel industry where it is primarily used in metal alloys such as rebar and structural steel, high speed tools, titanium alloys and aircraft.

An emerging use for vanadium is the rapidly developing battery sector with the expanding use of vanadium redox batteries (VRBs).

VRBs provide an efficient storage and re-supply solution for renewable energy – being able to time-shift large amounts of previously generated energy for later use.

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Wed, 07 Mar 2018 16:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192734/technology-metals-australias-shares-rise-after-vanadium-resource-upgrade-192734.html
<![CDATA[News - Technology Metals Australia tests deliver high vanadium recoveries ]]> https://www.proactiveinvestors.com.au/companies/news/192086/technology-metals-australia-tests-deliver-high-vanadium-recoveries-192086.html Technology Metals Australia Ltd (ASX:TMT) tests have delivered exceptional vanadium recoveries of up to 97.8% from its Gabanintha project in Western Australia.

Tests also delivered weight recoveries of up to 85.6% at a grind size of 106 microns and concentrate grades exceeding 1.3% vanadium pentoxide.

Rejection of deleterious elements

There was also outstanding rejection of deleterious elements silica and alumina in very high-quality magnetic concentrate.

This is expected to be highly beneficial for efficient vanadium processing.

Results are from the first phases of a detailed metallurgical test work program on representative composite samples from diamond drilling.

The program has been designed to follow-up encouraging results from a preliminary round of test work on composite reverse circulation drill samples from drilling in March 2017.

It indicates that vanadium grade and recovery to a magnetic concentrate is not sensitive to grind size.

Test work is ongoing

Ongoing tests will assess metallurgical variability throughout the Northern Block Resource and downstream processing.

This will focus on the extraction of vanadium utilising the traditional salt roast/leach processing technique.

The project has an inferred resource of 62.8 million tonnes at 0.8% vanadium and 9.7% titanium.

Northern Block tenements are contiguous with the northern extent of Australian Vanadium Ltd’s (ASX:AVL) Gabanintha project resource and conceptual open pit.

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Fri, 23 Feb 2018 10:35:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192086/technology-metals-australia-tests-deliver-high-vanadium-recoveries-192086.html