Heavy Minerals Limited (HVY) is an Australian based Industrial Minerals Company.
The company commenced trading on the Australian Securities Exchange (ASX) in September 2021.
Heavy Minerals owns 100% of the Port Gregory Garnet Project in Western Australia.
This project has a JORC Compliant Mineral Resource estimate of 135 Mt @ 4.0% (THM) with 4.9 Mt of Contained Garnet.
The Company’s recently completed Scoping Study demonstrates the potential for a 16 year mine life project having a net present value (NPV) of $253 million and a capital cost of $110 million. The project borders the GMA Garnet Group (GMA) mine and Resource Development Group Ltd’s (RDG.ASX) Lucky Bay Mine (under construction). These are three of the highest quality garnet projects anywhere in the world.
Heavy Minerals owns 70% of the Inhambane Mineral Sands Project in Mozambique which has a JORC compliant Inferred Mineral Resource of 90MT @ 3.0% THM. This project borders the Rio Tinto and Savannah Resources Heavy Mineral Sands Projects.