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Technology Metals Australia Ltd (TMT)

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A Deep Dive profile provides ASX listed companies with an opportunity to tell their story in plain English.

Technology Metals Australia: a domestic ESG-focused vanadium producer

Technology Metals Australia Limited (ASX:TMT) is an exploration company focused on the development of its 100% owned Murchison Technology Metals Project. The project comprises the Gabanintha and Yarrabubba Vanadium developments, located south of Meekatharra in Western Australia. The company is aiming to move to a decision to mine in late 2022.

Technology Metals will use vanadium from the project to reduce emissions in the steelmaking sector. TMT is also investigating the production of vanadium electrolytes for zero emission redox flow batteries.

Highlights

One of the largest pure play vanadium mines globally, situated in a stable jurisdiction.

The Gabanintha DFS reflects a project with strong financial returns producing a clean high purity product.

TMT well placed to feed growing demand from both the steel industry, and grid-scale battery storage market.

World-class mining environment and connected infrastructure to support project development.

Committed to delivering strong shareholder returns through the Yarrabubba and Gabanintha Projects.

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People

Board of Directors

Michael Fry

Non-Executive Chairman

Mr Fry has extensive corporate and commercial experience, financial and capital market knowledge and a background in corporate treasury management. Mr Fry is currently Non-Executive Chairman of ASX listed Brookside Energy Limited with a focus on oil and gas exploration and production onshore.

Profile

Michael Fry

Non-Executive Chairman

Michael Fry holds a Bachelor of Commerce degree from the University of Western Australia, is a Fellow of the Financial Services Institute of Australasia, and is a past member of the Australian Stock Exchange. Mr Fry has extensive corporate and commercial experience, financial and capital market knowledge and a background in corporate treasury management. Mr Fry is currently Non-Executive Chairman of ASX listed Brookside Energy Limited with a focus on oil and gas exploration and production onshore mid-continent region of USA, Non-Executive Chairman of Challenger Energy Limited that is focussing on oil and gas exploration opportunities in South Africa and Non-Executive Chairman of ASX listed Norwest Energy NL that has assets in Australia and the United Kingdom with an operational focus on the northern Perth Basin. Mr Fry was a board member of Precious Metals Australia Limited which owned and operated the Windamurra Vanadium operation in Western Australia.

Ian Prentice

Managing Director

Ian has over 30 years experience in the global mining industry, serving as a Director for a number of ASX-listed resource companies, with activities ranging from exploration and project acquisition in Asia and Africa through to gold production in Australia.

Profile

Ian Prentice

Managing Director

Ian Prentice holds a Bachelor of Science (Geology) from the University of Western Australia and has over 30 years experience in the global mining industry, spanning exploration, development and open cut and underground mining. Ian is a Member of the Australasian Institute of Mining and Metallurgy. Ian has served as a Director for a number of ASX-listed resource companies, with activities ranging from exploration and project acquisition in Asia and Africa through to gold production in Australia. Ian is the founding Executive Director of Technology Metals Australia Limited.

Jacqueline Murray

Non-Executive Director

Jacqueline Murray is a Partner at Resource Capital Funds (RCF) and has worked within the mining industry for over 20 years. Mrs Murray joined RCF in 2012 after working in business analysis and improvement roles with BHP Billiton.

Profile

Jacqueline Murray

Non-Executive Director

Jacqueline Murray is a Partner at Resource Capital Funds (RCF) and has worked within the mining industry for over 20 years. Mrs Murray joined RCF in 2012 after working in business analysis and improvement roles with BHP Billiton. Prior to this she worked in various geotechnical engineering roles in underground and open pit operations within BHP Billiton and WMC Resources. Mrs. Murray holds an MBA from Melbourne Business School and a Bachelor of Geological Engineering from RMIT University. She is a graduate of the Australian Institute of Company Directors and currently serves on the Board of Directors of Alliance Mining Commodities and Khoemacau Copper Mining.

Sonu Cheema

Non-Executive Director & Company Secretary

Mr Cheema is a Partner at Cicero Group with over 10 years’ experience working with public and private companies in Australia and abroad. Currently Mr Cheema is Company Secretary for Corizon Limited (ASX: CIZ), Avira Resources Limited (ASX: AVW), Yojee Limited (ASX: YOJ) and Comet Resources Limited (ASX: CRL).

Profile

Sonu Cheema

Non-Executive Director & Company Secretary

Mr Cheema is a Partner at Cicero Group with over 10 years’ experience working with public and private companies in Australia and abroad. Roles and responsibilities held by Mr Cheema include completion and preparation of management and ASX financial reports, investor relations, initial public offers, mergers and acquisitions, management of capital raising activities and auditor liaison. Currently Mr Cheema is Company Secretary for Corizon Limited (ASX: CIZ), Avira Resources Limited (ASX: AVW), Yojee Limited (ASX: YOJ) and Comet Resources Limited (ASX: CRL). Mr Cheema has completed a Bachelor of Commerce majoring in Accounting at Curtin University and is a CPA member. Having completed the CPA Program, the core competencies and key areas of focus by Mr Cheema include Financial Reporting, Taxation, Management Accounting and Governance.

The Murchison Technology Metals Project (MTMP)

Vanadium

Gabanintha Project

The Gabanintha deposit is located 30km south of Meekatharra in the Tier-1 mining jurisdiction of Western Australia. The deposit contains a 5.5 km strike length of high-grade mineralisation within a layered gabbro. It is one of the highest-grade vanadium deposits in the world. Gabanintha forms the core of the Murchison Technology Metals Project; representing the bulk of the mineral resource, and the site of the proposed processing plant and associated infrastructure.

Technology Metals has identified a Mineral Resource of 109.5Mt @ 0.8% V2O5 including a high-grade zone of 71Mt @ 1.1% V2O5 within a single massive magnetite layer. A full range of metallurgical test work has shown the orebody can be processed using conventional salt roast techniques, to produce a high quality >99% purity V2O5 product.

Vanadium

Yarrabubba Project

The Yarrabubba Vanadium Project is located 50km south of Meekatharra (itself 20km south of Gabanintha) in Western Australia. Yarrabubba is a satellite deposit of the Murchison Technology Metals Project (MTMP) and represents an opportunity to leverage higher vanadium production early in the mine’s development due to higher concentrate grades, and, an additional ilmenite by-product.

Technology Metals plans to complete an Integration Study for Yarrabubba by mid-2022 that will investigate the optimal mining and sequencing of both Yarrabubba with Gabanintha.

Milestones

Historical Milestones

Outstanding results from testwork on Yarrabubba samples for Integration Study
MTMP processing plant's leading kiln supplier, Danish company FLSmidth, awarded notice to complete FEED
Early Works Agreement executed with APA Group Limited (ASX: APA) for proposed Gabanintha Gas Pipeline
Implementation phase of the MTMP commenced with TMT targeting a development decision by late 2022.
Feasibility study on domestic vanadium electrolyte production underway with support from Japan's LE System.

Future Milestones

Implementation Phase Underway
TM!-

Resources

Investor Presentation - Noosa Mining Conference

22 Jul 2022
PDF (4603.3 KB)

Quarterly Activities and Cashflow Report - June 2022

20 Jul 2022 | Report
PDF (579.4 KB)