The scoping study’s objective was to determine the potential viability of an open pit mine with an on-site magnetic separation process followed by a hydro-metallurgical recovery of vanadium, titanium and iron.
The study presents a cohesive project that demonstrates a viable business case for further development.
Importantly, the scoping study sees a positive business case with a healthy cash flow margin that supports progression to the pre-feasibility study (PFS) stage.
The preliminary infrastructure strategy is to establish the primary processing facilities on site.
The processed product, a magnetic concentrate will then be transported to a hydro-metallurgical facility in Wyndham located 170 kilometres north.
Progressing to a PFS, full production 2023
The next stage of progression is completing a more in-depth PFS, which will provide a net present valuation (NPV) for the proposed operation.
The board will authorise the commencement of a PFS early in 2019 after current heap leach analysis has been completed.
King River intends to make the appointment of a project manager for the PFS a top priority.
A preliminary project implementation timeline estimates full production being achieved in July 2023.