Technology Metals Australia Limited (ASX: TMT) is focused on developing its 100% owned flagship Gabanintha Vanadium Project located 40km south of Meekatharra in Western Australia.
In August 2019, the Company announced outstanding results from the high quality Definitive Feasibility Study (DFS) confirming the lowest quartile operating costs, high value and technically strong development opportunity of the Gabanintha Vanadium Project. 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 Massive Magnetite Resource and >99% V205 high purity product identifies the Project as one of the highest-grade, low cost operations over a long initial mine life, at a scale that will make the Project the largest single primary vanadium producer in the world. Delivery of this study is a key milestone in progression of discussions with prospective development partners that the Company has engaged with over the past 12 to 18 months.