Overview

Western Australian Copper Assets

Our Western Australian Copper Projects consist of the following key assets:

Yendon Kaolin-REE’s – Victoria

In July 2020, the Company was advised by the Victorian Mines Department that the Retention License application covering the Yendon kaolin resource (RL6734) had been approved. The Yendon HPA Project is currently on care and maintenance following the company's focus on Copper and Gold exploration. The work completed to date is:

The results of the Pre-feasibility Study (PFS) showed very strong financial and technical results. The financial results were:

 
 

The PFS results were underpinned by:

  • a substantial high-grade kaolin resource near Ballarat, Victoria that contains low levels of deleterious impurities;

  • a shallow open pit mine design with low stripping ratios, which can be efficiently contract mined without blasting, crushing or grinding;

  • simple beneficiation by screening the kaolin ore at the mine site to remove 57% of the ore mass comprising mainly coarse silica, upgrading the ore to a 35% kaolin concentrate for transport to the hydrometallurgical process facility (HPF);

  • significant metallurgical test work which has defined a robust chemical process to convert Yendon kaolin to HPA. This process is based on the industry-standard process derived from the US Bureau of Mines published and public data customised by Hill End specifically for the Yendon orebody;

  • confirmation via this developed chemical process that Yendon kaolin can produce HPA exceeding 99.99% Al2O3;

  • development of a simple and effective process flow diagram using commercially proven, and largely "off the shelf", operations that result in competitive capital and operating costs to produce HPA with low environmental impact; and

  • adoption of a conservative HPA selling price of $25,200/ tonne for 99.99% HPA over the life of the project, which is at the bottom end of the current HPA market price range as established by independent market analyst Roskill.