Technology Metals Australia PFS results forecast billion dollar vanadium project

Date: Jun 22, 2018

he PFS mine plan revolves around the development of two open pits.
The proposed mine is based on only a small portion of the project’s total JORC resource

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.”

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