Name of the Project
Mt Mulgine tungsten project.

Location
Murchison region of Western Australia.

Project Owner/s
Tungsten Mining.

Project Description
A prefeasibility study (PFS) has confirmed the technical and financial viability of a six-million-tonne-a-year mining and processing operation at Mt Mulgine.

The project has maiden mineral ore reserves of 140-million tonnes grading 0.10% tungsten, 288 parts per million molybdenum, 0.12 g/t gold, 5.9 g/t silver and 0.03% copper. The ore reserve estimate and mine plan are based entirely on indicated mineral resources.

The PFS envisages average production of about 460 000 t/y of tungsten in concentrate over the life-of-mine, with production of by-product concentrates of molybdenum and copper/gold/silver, with contained metal of about 1 070 t/y of molybdenum, 1 265 t/y of copper, 9 400 oz/y of gold and 525 000 oz/y of silver.

The project will be mined using conventional bulk drill-and-blast and load-and-haul methods.

The PFS estimates a long-life operation, with a life-of-mine of 24.5 years.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of A$422-million and an internal rate of return of 10.83%.

Capital Expenditure
The project has a total capital cost of A$669-million.

Planned Start/End Date
The execution strategy to deliver the project to operational status has yet to be formalised.

Ore production is expected 13 to 15 months after the start of site establishment.

Latest Developments
The project’s focus will now be on critical path activities, particularly increasing the level of metallurgical and process definition and securing a long-term water supply.

Environmental surveys will continue to ensure that the time required to meet the regulatory approval requirements is within the project development timeframe.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Tungsten Mining, tel +61 8 9486 8492 or email info@tungestenmining.com.