Neometals wholly owns Barrambie which has a granted mining lease and has been the subject of approximately >AUD$40 million in Neometals exploration and evaluation expenditure since 2003.
Barrambie is located approximately 80km Northwest of Sandstone in Western Australia and is one of the largest vanadiferous-titanomagnetite (“VTM”) resources globally (280.1Mt at 9.18% TiO2 and 0.44% V2O5)*, containing the world’s second highest-grade hard rock titanium resource (53.6Mt at 21.17% TiO2 and 0.63% V2O5)* and high-grade vanadium resource (64.9Mt at 0.82% V2O5 and 16.9% TiO2) subsets based on the latest Neometals 2018 Mineral Resource Estimate*
Barrambie is a large and unique ‘mine-ready’ development opportunity benefiting from an exceptionally high titanium resource/reserve grades in a Tier 1 jurisdiction. Securing access to large, high grade chloride feedstock sources is a strategic imperative to downstream users. Neometals is progressing a titanium feedstock offtake arrangement where the Company aims to utilise a capital light development strategy against a supply constrained market demanding high grade chloride feedstock for sustainable production of pigments and metal alloys.
Neometals is advancing from term-sheet to formal take or pay titanium feedstock offtake with China’s largest chloride-grade titanium slag producer. Near-term strategy to produce direct shipped ore ahead of long life concentrate export to China. Capital light execution model with shipping from the port of Geraldton. Longer term value creation opportunity associated with vanadium rich material stockpiled during operations.
