Overview
Metals Australia (ASX:MLS) is a mineral exploration firm with a high-quality portfolio of superior battery minerals and metals initiatives in Tier 1 mining jurisdictions of Western Australia and Canada. The portfolio includes two crucial minerals initiatives in Quebec, Canada — the Lac Carheil flake graphite venture and the Corvette River lithium (and gold) venture. The Australian portfolio includes 4 initiatives: Tennant Creek (copper-gold) within the Northern Territory and Warrambie (lithium, nickel-copper, gold), Murchison (gold) and Manindi (lithium, vanadium-titanium, zinc) – all in Western Australia.
The push for internet zero targets and the decision from policymakers to transition to cleaner power has intensified the concentrate on electrical automobiles (EVs) and battery storage. The EV automakers and battery producers, depend on important supplies comparable to graphite and metals, together with lithium, nickel, copper and cobalt, to fabricate the batteries which can be utilized in these automobiles and storage batteries usually. This has pushed carmakers and battery producers to accomplice with battery materials suppliers beneath direct off-take agreements. Additional, some automakers/battery producers are shopping for fairness stakes in miners, involving them immediately in financing choices for the event of mining initiatives. That is encouraging for corporations comparable to Metals Australia because it actively advances its initiatives in the direction of growth.
Determine 2 – Graphite is a Vital Mineral required for the mass electrification of auto transportation.
Metals Australia is targeted on progressing its flagship Lac Carheil flake graphite venture in Quebec, Canada. The venture is well-positioned to produce prime quality graphite merchandise, together with battery-grade graphite to the North American market – together with for lithium-ion and EV battery manufacturing sooner or later. The corporate introduced constructive sampling outcomes throughout a 36-km strike size of recognized graphite traits at Lac Carheil, together with many values over 20% Cg and an exceptionally high-grade pattern containing over 63% Cg. The corporate has deliberate a drilling program to check new high-grade zones recognized from the sampling program, which can kind the idea for upgrading the prevailing Lac Carheil Mineral Useful resource. An utility for the drilling program is progressing with the Quebec regulator. Moreover, the corporate has just lately commenced a Flake Graphite focus prefeasibility research with Lycopodium in Ontario and a downstream battery anode plant design with ANZAPLAN in Germany.
Metals Australia can also be advancing its lithium, gold and silver exploration venture at Corvette River, which is adjoining to Patriot Battery Metals’ world-class lithium venture. Additional, the corporate carries out aggressive exploration packages at its different initiatives, together with Manindi, Warrambie & the Murchison in Western Australia and Tennant Creek within the Northern Territory area of Australia.
Metals Australia is well-funded to finish all its deliberate exploration and venture research. The money place on the finish of Q1 2024 was AU$17.86 million, which we word was greater than the corporate’s market capital at present share worth. Metals Australia advantages from a workforce of execs boasting in depth experience in geology and mining. The appointment of skilled mining govt Paul Ferguson because the CEO is constructive for the corporate. Since becoming a member of in January 2024, he has considerably superior planning and preparation for the exploration, metallurgical check work packages, and design research required to maneuver its flagship Lac Carheil high-grade graphite venture in the direction of growth. The Corvette Undertaking has additionally accomplished exploration planning and is now absolutely permitted for drilling and trenching work in the course of the northern hemisphere summer season.
Firm Highlights
- Metals Australia is quickly advancing its flag ship Lac Carheil Graphite Undertaking in Quebec, Canada. As well as, the corporate has a collection of high-quality exploration initiatives – together with Lithium, Gold and Silver in Quebec, Canada and Lithium, Gold, Copper & Vanadium in Western Australia (WA) and the Northern Territory (NT).
- All initiatives are in Tier-1 mining jurisdictions (Canada and Australia) with world-class prospectivity and secure geo-politically.
- The corporate has six key exploration and growth initiatives:
- two in Canada: the Lac Carheil high-grade flake graphite venture and the Corvette River lithium and gold-silver-copper exploration venture, and,
- 4 in Australia: Warrambie (lithium, nickel-copper, gold), Murchison (gold) and Manindi (lithium, vanadium-titanium, zinc-silver) in WA, and Tennant Creek (Warrego East copper-gold) within the NT.
- The main focus is to quickly advance its flagship Lac Carheil Graphite Undertaking in the direction of growth. A drilling program is already contracted to considerably enhance the prevailing JORC 2012 Mineral Useful resource of 13.3 Mt @ 11.5 p.c graphitic carbon (Cg) and check the potential of the numerous different recognized high-grade graphite traits.
- The 2020 Scoping Examine on Lac Carheil based mostly on the prevailing useful resource, representing solely 1km of drilling out of the full 36kms of recognized graphite traits, signifies a 14-year mine life with a manufacturing of 100,000 tons each year and a pre-tax NPV @ 8 p.c of US$123 million (~AUD$190 million).
- There are a number of catalysts at Lac Carheil within the close to time period together with a pre-feasibility research (PFS) (underway), a scoping research on downstream battery (anode) – grade graphite manufacturing, and deliberate drilling aiming to not less than double the useful resource in addition to check different recognized high-grade graphite traits.
- Moreover, different initiatives in Canada together with the Corvette River lithium and gold targets, and exploration in Australia at Manindi, Warrambie, Murchison and Warrego – are all seeing lively progress.
- The corporate is well-funded to finish all its deliberate exploration and venture research. The money place on the finish of Q1 2024 was AU$17.86 million.
- Metals Australia is led by a seasoned board and administration workforce possessing in depth mining sector expertise and a confirmed observe report of profitable discoveries and venture developments. With funding in place, the corporate is well-positioned to capitalise on development prospects.
Determine 1 – Location of Metals Australia’s initiatives within the Tier 1 Mining Jurisdictions in Quebec, Canada and Australia’s Western Australia and the Northern Territory.
Key Tasks
Canada
Lac Carheil Flake Graphite Undertaking (MLS 100%)
Conceptual 3D Mining format from February 2021 Scoping Examine (Lac Carheil Undertaking previously named Lac Wet Undertaking)
The Lac Carheil Graphite Undertaking is situated in jap Quebec, Canada, a tier 1 mining jurisdiction with entry to wonderful infrastructure, together with hydroelectric energy amenities. The venture hosts an present JORC 2012 mineral useful resource of 13.3 million tons (Mt) @ 11.5 p.c graphitic carbon, which was introduced in 2020 and a scoping research was accomplished and reported on in early 2021. Battery check work adopted, in Germany, and this demonstrated the Lac Carheil Graphite focus may very well be formed, purified, coated and utilized in battery functions with wonderful outcomes. Given the above work, the corporate carried out additional area work, just lately asserting exceptionally high-grade sampling outcomes from 80 samples on 10 recognized graphitic traits throughout the property. This included a pattern containing 63 p.c graphitic carbon, and 10 samples containing over 20% Cg. The common grade of the sampling was 11% Cg, which is similar to the present high-grade useful resource. The mixed strike size of the recognized high-grade graphitic zones is over 36 kms. This compares to simply 1 km of drilling on 1.6 kms of graphite development that was utilised to acquire the prevailing useful resource. The potential for increasing and upgrading the prevailing useful resource stays monumental.
Determine 4 –Lac Carheil Graphite Undertaking – Electromagnetic imagery outlining graphite traits and the useful resource
Further drilling and growth research are both deliberate or are already underway, together with a pre-feasibility research for a excessive grade Flake graphite focus product – which has commenced and a downstream purification choices evaluation and a scoping research for a battery anode facility in North America, which has been contracted. The corporate additionally introduced it’s contract prepared for its deliberate drilling program and can fast-track this system as quickly as permits are acquired from the Quebec regulator.
Corvette River Lithium Undertaking (MLS 100%)
Corvette River Lithium, gold and silver Undertaking is situated in Quebec’s James Bay area Metals Australia just lately introduced that it’s absolutely permitted to advance an in depth area exploration program throughout its holdings which embrace the wholly owned East Pontois, Felicie and West Pontois initiatives, located inside Patriot Battery Metals’ (ASX:PMT) CV Lithium Development, in addition to tenements at West and East Eade within the firm’s parallel Corvette River South Development. A area mapping and sampling program concluded final 12 months and recognized giant, probably lithium-bearing pegmatites instantly alongside strike from Patriot Battery Metals’ world-class lithium pegmatite discoveries. Moreover, the corporate has flagged vital gold and silver samples from its evaluation of labor beforehand accomplished throughout the sphere as is illustrated within the diagram beneath.
Determine 5 – The Corvette Tasks within the James Bay area of Canada. Potential for Lithium, Gold & Silver
Australian Tasks
Warrambie Undertaking (MLS 80%)
The Warrambie venture is situated within the Pilbara area of Western Australia. It’s 20 kms west of the Andover Lithium discovery (Azure Minerals (ASX:AZS). Metals Australia has accomplished geophysical surveys throughout the world and is figuring out targets for additional area exploration and drilling.
Warrego East Undertaking (MLS 80%)
Metals Australia acquired the tenements as a part of a package deal bought from Payne Gully Gold in 2022. The corporate’s tenements embrace a granted exploration license (E32725) immediately alongside strike to the east of the Warrego copper-gold deposit, which has a manufacturing of 1.45 Million Ounces of gold at 8 grams per tonne and over 90,000 tonnes of Copper at 2%. The Warrego mine operated from the late 1950’s by till 1989. It was discovered beneath sedimentary cowl. The realm and this land package deal is beneath detailed evaluation using obtainable geophysical surveys. The corporate goals to determine additional targets hidden beneath shallow sediment cowl.
Massive Bell North Undertaking (MLS 80%)
The Murchison tenements had been additionally acquired as a part of the Payne Gully Gold transaction. Metals Australia owns exploration licenses on the Murchison gold venture, which is adjoining to the >5 million ounces (Moz) Massive Bell gold deposit. The corporate plans to conduct detailed magnetics and gravity surveys to check for extensions and repeats of high-grade gold deposits.
Manindi Undertaking (MLS 80%)
The Manindi venture is situated within the Murchison District, roughly 500 kms northeast of Perth in Western Australia. The venture includes three mining leases and has a longtime high-grade zinc mineral useful resource. The metallurgical check work has situated spodumene in samples from a high-grade lithium intersection of 12m @ 1.38 p.c lithium oxide, together with 3m @ 2.12 p.c lithium oxide. The corporate additionally made a brand new vanadium-titanium discovery on the Manindi venture.
Administration Staff
Paul Ferguson – Chief Govt Officer
A Mining Engineer, Paul Ferguson has over three many years of expertise within the assets and power sectors throughout North America, Asia and Australia. He has in depth venture growth and operational expertise working in Canada. He has labored in oil & gasoline main ExxonMobil throughout venture levels, together with feasibility, design, building, and operation. He has labored in Govt degree roles inside Australia, together with at GMA Garnet and held more and more extra senior roles with BHP (Iron Ore & Coking Coal) after which with Exxon Coal Minerals and Mobil Oil Australia in the course of the early levels of his profession.
Tanya Newby – CFO and Joint Firm Secretary
Tanya Newby is a finance and governance skilled with over 20 years expertise in varied company and industrial roles. She has a robust background within the assets sector and has offered monetary recommendation and help to numerous publicly listed entities by exploration, venture growth by to the manufacturing stage. Tanya is a member of the Institute of Chartered Accountants, Member of the Governance Institute of Australia and a Graduate Member of the Institute of Firm Administrators.
Michael Muhling – Joint Firm Secretary
Michael Muhling has over 20 years of expertise within the assets, together with 15 years in senior roles with ASX-listed corporations. He’s a fellow of CPA Australia, The Chartered Governance Institute, and the Governance Institute of Australia.
John Dugdale – Technical Advisor
John Dugdale is a geologist with over 35 years of expertise within the discovery and growth of graphite, lithium, gold, nickel and copper initiatives. His company expertise contains serving as a director and CEO of a number of junior useful resource corporations centered on nickel-cobalt, graphite and copper-gold initiatives. Moreover, he has expertise in funds administration with Lion Choice Group.
Chris Ramsay – Basic Supervisor Geology
Chris Ramsay is a geologist and venture supervisor with over 25 years of expertise within the world mining trade. He has been concerned in exploration, mine growth and operations for mining initiatives in Australasia, Southeast Asia, and elements of Africa and North America.
Board
Michael Scivolo – Non-executive Chairman
Michael Scivolo has in depth accounting and taxation expertise for company and non-corporate entities. He was a accomplice/director at a CPA agency till 2011 and has since been consulting in accounting and taxation. Scivolo is on the boards of a number of ASX-listed mining corporations, together with Sabre Sources, Golden Deeps and Tennant Minerals Ltd.
Alexander Biggs – Non-executive Director
Alexander Biggs has over 20 years of expertise within the mining and engineering sector. Throughout his profession, he has been concerned in varied actions, together with operations, consulting, finance and capital elevating. He’s presently the managing director of Lightning Minerals (ASX) and was beforehand the managing director of Vital Sources (ASX:CRR). Biggs is a member of the Australian Institute of Mining and Metallurgy and a graduate of the Western Australian Faculty of Mines.
Rachelle Domansky – Non-executive Director
Rachelle Domansky is an ESG specialist and a consulting psychologist for companies, governments and academic establishments within the Asia-Pacific area. Along with Metals Australia, Rachelle holds non-executive board positions at Quebec Lithium and Entry Plus WA Deaf.
Basil Conti – Non-executive Director
Basil Conti has been related to the mining trade for over 25 years. He’s a fellow of the Institute of Chartered Accountants Australia & NZ and was a accomplice/director of a chartered accounting agency in West Perth till 2015.
