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$13.4m tranaction completed with two major Chinese companies: Ao-Zhong International Mineral Resources Pty Ltd ("Ao-Zhong"), a subsidiary of the State Owned Enterprise Jiangsu Eastern China Non-Ferrous Metals Investment Holding Co Ltd ("ECE") and Aosu Investment & Development Co Pty Ltd (a wholly owned subsidiary of the Wanlong Industrial Group)
Mount Hardy - Acquisition of new 101.76km2 tenement in highly prospective Mount Hardy Copper Field
Mount Peake - One of Australia’s largest Iron Vanadium Titanium Projects
Large-scale resource of 160Mt grading 0.3% V205, 23.66% Fe, 5.34% TiO2
Exploration Target of 500-700Mt grading 0.2-0.4% V205, 25-35% Fe and 6-9% TiO2
Pre-Feasibility Study completed:
Results give a $12B LOM revenue; with Annual Nett Cash flow $294M over 17 year mine life
Located close to Road, Rail and Power infrastructure
Additional potential to value-add for downstream value
Extensive Mineral Portfolio for Copper and Gold, a major Lead/Zinc/Silver (Pb/Zn/Ag) project, and 20% interest in the Cawse Nickel mine