pfs started on toli by bgrimm

SCOPING STUDY & PRE-FEASIBILITY STUDY FOR TOLI TOLI MOLYBDENUM PROJECT

Richfield Group Limited (ASX: RCH) (the Company) is pleased to announce it has engaged Beijing General Research Institute of Mining and Metallurgy (BGRIMM) to carry out a scoping and pre-feasibility study on its Toli Toli Molybdenum Project.

BGRIMM is China’s biggest comprehensive research and design corporation engaged in mining, metallurgy and engineering technology. As part of an agreement with BGRIMM, the Company has commissioned a scoping study with BGRIMM and Oric Consulting Pty Ltd (Oric).

The research program will be in three stages with the aim of outlining the path to commercially produce a marketable product of Molybdenum. Mr Harry Wang of Oric has been engaged as the Technical Consultant to oversee and manage the project. Mr Wang is the President (China Business Development) of Lynas Corporation Limited and is responsible for China operations and business development, especially in Rare Metals.

BGRIMM was founded in 1956 and is directly under the Central Government of China and is China’s biggest comprehensive research and design corporation. Their research and development work is mainly focused around the development and utilisation of mineral resources of base, ferrous, rare, noble and industrial metals.