Keysbrook Mineral Sands Project The Keysbrook Mineral Sands...

Keysbrook Mineral Sands Project

The Keysbrook Mineral Sands Project located 70 kilometres south of Perth will produce, on average, 96,000 tonnes per annum of mineral sands products comprising:

- 28,800 tpa (dry) of L70;
- 38,400 tpa (dry) of L88; and
- 29,000 tpa (dry) of zircon concentrate.

Heavy mineral concentrate will be trucked about 120 kilometres to Doral Mineral Sands’ mineral separation plant, which is just 10 kilometres from the Bunbury Port, for toll treatment.

Keysbrook has a high value JORC ore reserve of 26 million tonnes with in-situ THM of 670,000 tonnes grading 27.8% L70 (70% titanium dioxide), 46.6% L88 (88% titanium dioxide), 14.6% Zircon, and 11% other minerals.

The project hosts a high margin, long life reserve that will employ a very low CAPEX and draw upon a very well developed local infrastructure that is very conversant with processing mineral sands and use of simple and low risk processing technology.

Ore mining rate is set at 4.5 million tonnes per year to an average depth of 2.2 metres and no strip ratio for very low cost open pit mining.

Annual EBITDA has a base case of $44 million per year that is derived from a low OPEX of $331 per product tonne. The project is funded with a development cost of $69.6 million and pre-operations cost of $6.2 million.

There is upside to the project with low impact exploration using auger methods extending Keysbrook mineralisation beyond the currently approved mining areas and Resource boundary.