Kulgera HMS Project Annual Report EL 32858 for period ending 7 April 2024

Abstract

Evaluation of a report on metal recoveries from heavy mineral sands in the Kulgera district, southern Northern Territory, by Guangzhou Research Institute of Non-ferrous Metals for Globe Mineral Resources International Pty Ltd (GMRI) dated 2015, led Havelock Mining Pty Ltd to apply for two exploration licences in the Kulgera district. The exploration licences, granted on 8 April 2022, cover two prospective areas defined by GMRI named Spice Prospect within EL 32858 and Dune Prospect within EL 32859. Havelock Mining has examined the chemical specifications of the final product as detailed in the report by the Guangzhou Research Institute of Non-ferrous Metals. Following this review, Havelock Mining has started discussions with end users of ilmenite in China regarding the offtake, in order to assess the product's suitability and estimate the potential annual volume of consumption. During the current tenement year, Havelock has studied and reviewed a number of technical factors including logistics cost review, waterflow data, optimum processing to assess the project economics.