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Technology Metals Australia Limited (ASX:TMT) is a specialty metals developer and explorer, advancing on the high-grade, low-cost premium purity Gabanintha Vanadium Project to meet the energy demands of the future.
The Gabanintha Vanadium Project, also popularly referred to as GVP, is anticipated to emerge as the world’s largest single primary vanadium producer. GVP would not just be a large-scale operation but also expected to be a long-life producing high purity vanadium product (>99% V2O5), suitable for energy storage applications. The Definitive Feasibility Study (DFS) was completed in August 2019 with the following outcomes-
GVP – High-Grade, Low-Cost, Premium Purity Vanadium Project
The project is located in Western Australia’s mid-west region, approximately 40 kilometres south east of Meekatharra. GVP includes open pit mining of multiple deposits. The mining project is easily accessible with sealed highways from Perth and to Port Geraldton and Port Hedland to send the final products from operations to their discharge points.
A regional airport in Meekatharra serviced by an all-weather sealed runway could be used by GVP to fly the workforce to the mining site.
Lens on the World’s largest Primary Vanadium Project: Read Here
GVP Gains WA Government Lead Agency Support
On 20 February 2020, TMT announced the assessment of Gabanintha Vanadium Project as the lead agency project under the Department of Mines, Industry Regulation and Safety’s (DMIRS) Lead Agency Framework.
Gaining the lead agency support is a milestone for the project and would facilitate GVP through the permitting process. A principal policy officer has been assigned who would be responsible for liaising across government departments during the approval process to ensure swift journey for the project.
GVP falls in line with WA government’s “Future Battery Industry Strategy" under which they have been supporting critical mineral projects. You need to know that the maiden drilling on the project commenced in 2017 and since then Technology Metals has been aggressively pursuing the project with DFS to be completed in ~2.5 years in August 2019.
Technology Metals Gains WA Government Lead Agency Support for Gabanintha Vanadium Project: Must Read
Ongoing Progress of the Next Big Vanadium Project
TMT is working with Australian government’s Northern Australia Infrastructure Facility (NAIF) to secure funding for the project’s development.
The Company has been proactive in discussions with end use consumers from both the conventional steel market and trending energy storage sector. These discussions prior to development of the project have led TMT to secure two key offtake agreements covering ~40% of the annual production.
Leadership at Technology Metals
A strong blend of management and technical leadership is required for the successful execution of a project such as Gabanintha Vanadium Project. A leadership is required to lead the path for timely execution of the project.
Here is the leadership team of TMT.
Mr. Michael Fry is serving as Non-Executive Chairman of TMT since his appointment in May 2016. Apart from extensive corporate and financial experience, he also has a background in corporate treasury management.
A Fellow of the Financial Services Institute of Australasia, Mr. Fry holds a bachelor’s degree in commerce from the University of Western Australia and is a past member of the Australian Stock Exchange (ASX).
During his work tenure, he has been extensively involved in managing and leading vanadium and oil & gas companies across geographies and a board member of Precious Metals Australia Limited, which operated Western Australia-based Windimurra Vanadium operations.
Appointed as Managing Director of TMT in May 2016, Mr. Ian Prentice holds more than 30 years of experience in the global mining sector with extensive involvement in exploration, development and operations across both open pit and underground mining operations.
In the past, he led exploration and project acquisitions across geographies including Africa and Asia with operation commencement of gold projects in Australia.
Since his appointment in May 2016, Mr. Sonu Cheema serves as the Company’s Non-Executive Director and Company Secretary. In his prior roles and responsibilities, he held work related to preparation and finalisation of management and financial reports (ASX), in addition to IPOs, M&A, fundraisings, investor relations, and audit liaising activities.
He holds a bachelor’s degree in commerce from Curtin University and is a CPA member. Mr. Cheema specialises in taxation, management accounting, financial accounting, and governance activities.
Mr David English holds extensive experience of 30 plus years across development of mining projects for base metals and vanadium. In the past, Mr English managed the $445 million Nova Nickel and $400 million DeGrussa copper mines.
He holds vast technical and management experience across project ramp up operations, commissioning, and environmental approval and permitting.
The strong background of the management and technical team, coupled with their vast experiences, would be crucial for the progress of the Gabanintha Vanadium Project. The team at Technology Metals is working in synergy to develop the vanadium project with robust economics.
On 18 March 2020 (AEDT 01:21 PM), TMT stock was trading at $0.064, moving upward by 1.587% from its previous close. The Company has a market capitalisation of $6.74 million.
