Ann: Trial mining commenced at Sconi project, page-54

why would you sell a 30 year mine life assett with its metals in such huge demand for the next few decades.

Managing Director, Benjamin Bell commented, “The resource extension drilling program is another important step forward in Australian Mines’ strategy to become one of the world’s largest suppliers of scandium and a significant supplier of cobalt and nickel to the rapidly growing electric vehicle and technology metal sectors.”

“With discussions on-going with a number of potential customers and partners across Europe, Asia and the Middle East, there is an appetite for Australian Mines’ increasing the Flemington project’s projected mine life beyond its currently estimated 30 years of production. Likewise, there appears to be sufficient demand for these commodities to warrant increasing the total annual production beyond that initially outlined in the company’s recently completed Scoping Study. This, in turn, would further cement the Flemington project as a true ‘world class’ asset.

“This drill program will cover an area some three-times larger than the footprint of the current Flemington ore body, including extending the drilling to the north and northwest where previous drilling intersected thick, high-grade cobalt mineralisation within 10 metres from the surface6.

“There is also potential to upgrade and extend the existing scandium resource already established as one of the highest-grade scandium deposits in the world.”