https://www.miningweekly.com
Exploration|Industrial|PROJECT|Projects
Exploration|Industrial|PROJECT|Projects
exploration|industrial|project|projects

Heavy Minerals raises cash to complete Port Gregory PFS

14th February 2024

By: Creamer Media Reporter

     

Font size: - +

Industrial mineral exploration company Heavy Minerals on Wednesday announced a capital raising through a share purchase plan (SPP) to raise up to A$750 000 to complete the Port Gregory project prefeasibility study (PFS) work, while awaiting the receipt of royalty funds.

The ASX-listed company will issue up to 9 146 342 fully paid ordinary shares at A$0.082 each. The offer will close on March 6.

The proceeds will be used to complete the PFS and to advance permitting activities for the Port Gregory project, as well as for additional works at the Red Hill project. Both projects are in Western Australia.

Port Gregory has a mineral resource of 166-million tonnes at 4.0% total heavy minerals (THM). This comprises a measured mineral resource of 126-million tonnes at 3.8% THM, an indicated mineral resource of 20-million tonnes at 6.5% THM, and an inferred mineral resource of 20-million tonnes at 2.9% THM. This includes 5.9-million tonnes of contained garnet and 260 000 t of ilmenite.

An exploration target been defined for Red Hill using cut-off grades for reporting of 3% THM and 1% THM and ranging from 90-million to 150-million tonnes of material at 5.4% to 4.1% THM.

Edited by Creamer Media Reporter

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.114 0.155s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: