Ann: High recoveries in first metallurgical results at Niagara, page-5

I don't know why posters don't post the ann. since they've read it.
High recoveries in first metallurgical
results show Niagara bauxite will
comfortably meet market requirements
Results underpin Scoping Study set for completion in June 2025
Highlights
▪ Results of first 9 composite samples confirm high value gibbsite dominant mineralogy
and low reactive silica content of the Niagara bauxite
▪ Alumina recovery averages 81% from feed for low temperature digestion, and 91%
from feed for high temperature digestion across all composite samples tested
▪ Available alumina (AA) results range from 36 to 47% Al2O3 in high grade (47.4% Al2O3)
and 34 to 41% Al2O3 in typical resource grade material (42.8% Al2O3), are indicative
that the bauxite is capable of being processed in a wide range of alumina refineries
▪ Consistent low reactive silica averaging 1.5% for low temperature digestion, and 2.1%
for high temperature digestion
▪ High grade samples have very low reactive silica averaging 1.0% for low temperature
digestion, and 1.5% for high temperature digestion
▪ Low total carbon averages 0.13% and low organic carbon averages 0.1%
▪ Maiden Mineral Resource for the Niagara Bauxite Project is 185Mt1,2 at 42.3% Al2O3,
2.7% SiO2
▪ This includes higher grade subsets of 138Mt1,2 at 44% Al2O3, 2.8% SiO2 inclusive
of 48Mt1,2 at 48.2% Al2O3, 2.6% SiO2
Arrow Managing Director, David Flanagan, said: “These strong results will drive the assumptions in
our ongoing scoping study and show the potential to generate a high quality bauxite product.”
“The results reveal high recoveries and a product which will meet or exceed key market requirements
and is highly saleable. This is expected to sustain continued strong interest from prospective
customers and yield positive outcomes in the scoping study.”
“Typical of Guinea bauxite, the Niagara mineralisation is predominantly composed of a gibbsite
dominant mineral assemblage, which is normally suited to low temperature refining.”
“Our current scoping study is well advanced and will target a low capex starter operation, maximising
cash margin by initially leveraging the high grade subset of the Mineral Resource to achieve a price
premium for higher quality product.”