Highlights:
TMT DELIVERS ROBUST **ANINTHA PRE FEASIBILITY STUDY;
DIRECT PROGRESSION TO DEFINITIVE FEASIBILITY STUDY HIGHLIGHTS PRE-FEASIBILITY STUDY CONFIRMS **ANINTHA AS A HIGH VALUE, RELATIVELY LOW RISK AND TECHNICALLY STRONG PROJECT.
STUDY BASED ON INDICATED MINERAL RESOURCE COMPONENT (21.6MT AT 0.9% V2O5) OUT OF GLOBAL MINERAL RESOURCE OF 119.9MT AT 0.8% V2O5.
DELIVERS MAIDEN PROBABLE RESERVE OF 16.7MT AT 0.96% V2O5.
PROJECT METRICS COMPARE VERY FAVOURABLY TO GLOBAL PEERS.
BACKGROUND Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to announce the results of the pre-feasibility study (“PFS”) on its 100% owned **anintha Vanadium Project (“**anintha” or “Project”). Details of the PFS are attached, including the PFS Report Executive Summary as an Appendix to this release, with key highlights summarised in the table below. 1 – estimated to confidence level of -15% to +25% Managing Director Ian Prentice commented; “This is an outstanding result for the technically robust, extremely high quality **anintha 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”
Pre-feasibility Study Highlights1
Targeted Annual Production Rate 13,000 tpa V2O5
Estimated Processing Life (LOM) 13 years
LOM Revenue A$4,935 million
LOM EBITDA A$3,070 million
Pre-tax NPV (10% discount rate) A$1,277 million
Pre-tax Internal Rate of return 55 %
Post-tax NPV (10% discount rate) A$850 million
Post-tax Internal Rate of return 43 %
Average Operating Cost US$4.27/lb V2O5
Capital Expenditure A$380m (US$284m)
Payback of Capital 3.4 years
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Ann: TMT Delivers robust **anintha pre Feasibility Study, page-4
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