Announcement out holders:The second stage of beneficiation...

Announcement out holders:


The second stage of beneficiation testwork on the Katanning Project has produced high quality
iron and vanadium concentrates.

Mine Hill concentrate: 62.8% Iron & 1.89% vanadium pentoxide

Red Hill concentrate: 61.9% Iron & 1.94% vanadium pentoxide

The concentrate quality compares well with other titanomagnetite projects. Titanomagnetite is being
increasingly accepted as a source of iron ore in the steelmaking industry.
The vanadium content and low levels of deleterious elements in the concentrate is also comparable
to the concentrates at leading South African vanadium operations.
The testwork also showed that more than 70 per cent of the titanium can easily be removed from
the Katanning titanomagnetite, which potentially increases its suitability for use in steelmaking.

A high titanium tailings fraction will be further tested to assess the possibility of recovering ilmenite as a by-product. Importantly, the testwork indicates that excellent mass recoveries and concentrate quality can be achieved at a relatively coarse grind size (300 microns). By contrast, conventional magnetite projects
require energy intensive fine grinding (typically finer than 45 microns).