Heavy Minerals Limited (HVY) is an Australian based Industrial Minerals Company.
The Company commenced trading on the Australian Securities Exchange (ASX) in September 2021.
The Company owns 100% of the Port Gregory and Red Hill Garnet Projects in Western Australia.
The Port Gregory Project has a JORC Compliant Mineral Resource estimate of 166 Mt @ 4.0% (THM) with 5.9 Mt of Contained Garnet.
The Company’s recently completed Port Gregory 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 Port Gregory Project borders the GMA Garnet Group (GMA) mine and Resource Development Group Ltd’s (RDG.ASX) Lucky Bay Mine. These are three of the highest quality garnet projects anywhere in the world.
The Red Hill Garnet Project has an Exploration Target ranging from 90 to 150 Mt of material @ 5.4% to 4.1% THM. The Exploration Target also contains between 5 and 6 Mt of THM and 3.8 and 4.5 Mt of garnet. Cut-off grades for reporting range between 3% THM and 1% THM.
The Company 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.