https://www.engineeringnews.co.za

Watershed sale formalised

27th July 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Vital Metals has signed a formal sales agreement for its Watershed tungsten project, in North Queensland, with fellow listed Tungsten Mining.

The two companies in May this year struck a A$15-milion cash deal, that will see Tungsten Mining take control of the asset.

Completion of the transaction is now expected on August 9.

A recent independent review of the Watershed project estimated that it will require a capital investment of A$105.8-million to develop a 2.5-million-tonne-a-year operation, with a mine life of ten years. The project is estimated to have a post-tax net present value of A$150-million and an internal rate of return of 32%.

The project is development ready, with granted mining leases and an environmental authority for an openpit development.

Tungsten Mining said on Friday that the project will add substantially to the company’s global resource inventory, which upon completion of the transaction will stand at 176.9-million tonnes, at an average grade of 0.14% tungsten, and contain some 25.5-million tonnes of tungsten.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.051 1.336s - 140pq - 2rq
Subscribe Now