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Technology Metals Australia Receives Danish Letter of Interest

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THE BOURSE WHISPERER: Technology Metals Australia reported the delivery of a Letter of Interest (LoI) from EKF Denmark’s Export Credit Agency (EKF) regarding potential financing support for the company’s Murchison Technology Metals Project (MTMP).

The high-grade MTMP is located outside Meekatharra in Western Australia and consists of the Gabanintha and Yarrabubba deposits located on granted Mining Leases.

Technology Metals Australia is developing the MTMP to be a long-term supplier of critical minerals targeting average vanadium production of approx. 12,500 tonnes per annum vanadium pentoxide (V2O5) over an initial 25 year mine life as well as production of a titanium (ilmenite) by-product from mining and processing ore from Yarrabubba.

A recent Mineral Resource Estimate (MRE) upgrade delivered a global MRE for the MTMP of 153.7 million tonnes at 0.8 per cent V2O5, inclusive of a Measured and Indicated MRE of 63.2 million tonnes at 0.9 per cent V2O5, which the company expects to support an increase on the current 25 year mine life.

The EKF LoI contemplates financing support of around $150 million subject to, among others, sufficient Danish economic interest in the MTMP, approvals, satisfactory documentation, and customary due diligence.

Financing support from EKF is backed by the Danish state and as such can be considered to carry a AAA rating.

EKF has been involved in the financing of projects all over the world and has extensive and positive experience working with FLSmidth, a key equipment supplier for the MTMP.

“This is, an exciting and significant milestone alongside our partnership with FLSmidth, which places TMT in a strong position to progress the development of the MTMP,” Technology Metals Australia managing director Ian Prentice said.

“The TMT team is undertaking considerable work in progressing the MTMP funding strategy, including engagement with a range of institutions and also importantly progressing implementation of the company’s holistic ESG action plan in collaboration with WSP Golder, whilst maintaining a clear focus on the timely development of the MTMP and the supply of high purity vanadium pentoxide to play an important role in the global transition towards net zero.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Technology Metals Australia Conducts Vanadium Electrolyte Study to Supply Australian Batteries

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THE BOURSE WHISPERER: Technology Metals Australia (ASX: TMT) informed the market of its intention to commence a feasibility study for production of vanadium electrolyte in Australia.

Technology Metals explained the proposed plant would utilise the high purity vanadium pentoxide to be extracted from the company’s Murchison Technology Metals project (MTMP) in Western Australia to produce vanadium electrolyte to support the growing market for longer duration energy storage batteries in Australia (vanadium redox flow batteries or VRFB).

“As we move closer to a development decision on the MTMP vanadium project, we are increasing our focus on these downstream project enhancement initiatives,” Technology Metals managing director Ian Prentice said in the company’s ASX announcement.

“With an increased need for optimisation of renewable energy generation, there is a growing market for longer duration battery storage technologies such as vanadium redox flow batteries.

“With Technology Metals on track to be the world’s next pure low cost vanadium producer, the Company is well placed to become the preferred supplier of vanadium for these batteries.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: investos@tmtlimited.com.au

 

Web: www.tmtlimited.com.au

 

Technology Metals Australia Increases Yarrabubba Mineral Resource Estimate

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THE DRILL SERGEANT: Technology Metals Australia (ASX: TMT) reported an updated Mineral Resource Estimate (MRE) for the Yarrabubba project, part of the company’s Murchison Technology Metals Project (MTMP) in Western Australia.

Technology Metals has increased the Yarrabubba MRE by 32 per cent to 36.6 million tonnes at 0.8 per cent vanadium.

The Indicated component of the MRE now stands at 20.2 million tonnes at 0.9 per cent vanadium at Yarrabubba, representing a 110 per cent increase on the previous maiden Indicated MRE.

The upgrade includes high-grade component of 19 million tonnes at 1.1 per cent vanadium, increasing the Murchison Technology Metals Project (MTMP) high-grade component to 79.8 million tonnes at 1.1 per cent vanadium.

The global Measured and Indicated Mineral Resource Estimate for the MTMP has increased by 27 per cent to 50.2 million tonnes at 0.9 per cent vanadium.

“The Yarrabubba Mineral Resource upgrade is very pleasing, delivering on our objectives with a significant increase to the overall mineral resource and importantly more than doubling the Indicated mineral resource component,” Technology Metals managing director Ian Prentice said in the company’s ASX announcement.

“This underlines the opportunity for Yarrabubba to materially extend the life of the proposed low-cost MTMP as a large scale, world class vanadium development project, which is expected to be viewed favourably by prospective project financiers and key stakeholders.”

Work is now underway to update the Yarrabubba Ore Reserve estimate that is to be integrated into an expanded Global Ore Reserve estimate for the MTMP.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: investors@tmtlimited.com.au

 

Web: www.tmtlimited.com.au

 

Technology Metals Confirms High Recoveries from Gabanintha

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THE BOURSE WHISPERER: Technology Metals Australia (ASX: TMT) received results of pilot plant scale roasting testwork of a bulk sample collected from within the North Pit region of the company’s Gabanintha vanadium project near Meekatharra in Wesertn Australia.

Technology Metals explained the bulk sample for the pilot plant scale testwork was collected from within the North Pit region of the Gabanintha project late last year.

A total of 14.2 tonnes of sample was collected from this program; consisting of a blend of transitional massive magnetite mineralisation, fresh massive magnetite mineralisation, transitional hanging wall banded mineralisation, fresh hanging wall banded mineralisation and fresh footwall banded mineralisation.

The pilot plant scale testwork using this bulk sample was designed to confirm optimal operating parameters and scalability of laboratory testwork results and provide data for vendor definition of design parameters and cost estimates for the ‘roasting’ section of the processing circuit.

Initial ‘sighter’ testwork was completed previous to this using a representative 300 kilogram sub-sample of the bulk sample that confirmed the very high purity of final vanadium pentoxide (V2O5) product that can be produced from the GVP, delivering a 99.36 per cent V2O5 product purity.

Samples of this material have been sent to potential end-users / offtake partners for independent verification.

The latest testwork was conducted by roasting kiln suppliers FLSmidth in Pennsylvania USA, confirming the very high vanadium solubility/recovery rates indicated from the previous laboratory and sighter scale testwork.

Rates ranged from 84.9 per cent to 90.7 per cent during continuous feed, confirming the 85 per cent solubility/recovery to be used in the Definitive Feasibility Study.

FLSmidth is now undertaking engineering design and cost estimates for the roasting section of the process circuit.

Technology Metals expects delivery of the DFS mid-2019, which will ultimately be determined by how long it takes to verify and incorporate this information in to the overall DFS model.

“The very important pilot scale testwork, a key component of the delivery of a high-quality Definitive Feasibility Study, has confirmed the very high recovery rates for the roasting section of the process circuit,” Technology Metals Australia managing director Ian Prentice said in the company’s announcement to the Australian Securities Exchange.

“Delivery of the kiln design and operating parameters from kiln experts FLSmidth is the next vital step to be completed.”

 

Email: investors@tmtlimited.com.au

Website: www.tmtlimited.com.au

 

Technology Metals Australia Strikes Chinese MoU

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THE BOURSE WHISPERER: Technology Metals Australia (ASX: TMT) has executed a non-binding Memorandum of Understanding (MoU) with CNMC Ningxia Orient Group Company Ltd. (CNMNC).

Technology Metals Australia explained the deal is in relation to establishing a binding vanadium pentoxide (V2O5) offtake agreement over vanadium production from the company’s Gabanintha vanadium project.

CNMNC is a rare metal manufacturer headquartered in Shizuishan, Ningxia Province in China.

CNMNC is a controlled subsidiary of China Nonferrous Metal Mining Co., Ltd and its vanadium alloy production business, CNMC Ningxia Orient Group Special Materials Co., Ltd., produces vanadium nitrogen alloys and ferrovanadium for use in the Chinese steel industry.

“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.”

The MoU between TMT and CNMNC establishes a framework for ongoing discussions and negotiations aimed at delivering a definitive and binding offtake agreement.

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 tonnes per annum on a take-or-pay basis;

CNMNC to purchase such quantity of product that is available, up to 2,000 tonnes per annum, 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.

TMT outlined 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 Definitive Feasibility Study (DFS) and further refinement and agreement of the key off take terms.

 

Email: investors@tmtlimited.com.au

Website: www.tmtlimited.com.au

 

Technology Metals Australia Upgrades Gabanintha North Resource

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THE DRILL SERGEANT: Technology Metals Australia (ASX: TMT) reported on the update of the JORC Code 2012-compliant Northern Block Mineral Resource estimate and resulting Global Mineral Resource estimate for the company’s Gabanintha vanadium project.

The updated Northern Block Mineral Resource estimate includes a Measured and Indicated Mineral Resource of 30 million tonnes at 0.9 per cent vanadium oxide (V2O5) and 11 per cent titanium dioxide (TiO2), incorporating the maiden Measured Mineral Resource estimate in the North Pit area.

The Global Resource estimate for the project of 131 million tonnes at 0.9 per cent V2O5 and 10.1 per cent TiO2 includes a high-grade component of 71.2 million tonnes at 1.1 per cent V2O5 and 12.7 per cent TiO2 contained within a consistently mineralised massive magnetite zone.

“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,” Technology Metals Australia managing director Ian Prentice said in the company’s announcement to the Australian Securities Exchange.

 

Email: investors@tmtlimited.com.au

Website: www.tmtlimited.com.au