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Technology Metals Australia has end-user/offtake partner update pending

A trading halt will remain in place until the start of trading on Wednesday or when an announcement is released.
ASX sign
A DFS on the Gabanintha Vanadium Project is nearing completion

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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