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Heavy Minerals Limited (ASX:HVY)

ALERT: Price-sensitive ASX Announcement for HVY
Current share price for HVY : $0.360 0.01 (2.86%)+
Announcement
Release
29 Jul 2025 8:24AM
Price at Release
$0.350
Full Release
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Summary
Heavy Minerals Limited’s Quarterly Activities and Appendix 5B Cash Flow Report for the quarter ended 31 March 2024 details significant progress on the Port Gregory Garnet Project, including the completion of a pre-feasibility study which confirmed robust project economics, a maiden ore reserve of 3.5Mt at 4.1% THM, and submission of key environmental and mining applications. The company maintained strong community engagement, advanced mineral separation plant scoping, and reported ongoing cost control and prudent cash management, ending the quarter with $1.9 million in cash. No mining or production occurred, and the focus remains on progressing approvals, refining project design, and seeking strategic partnerships.
Key Points
  • Pre-feasibility Study for Port Gregory Garnet Project completed, confirming robust economics.
  • Maiden Ore Reserve of 3.5 million tonnes at 4.1% total heavy minerals announced.
  • Environmental and mining lease applications submitted to relevant authorities.
  • Community engagement and stakeholder consultation continued throughout the quarter.
  • Scoping study for a Mineral Separation Plant was advanced.
  • No mining or production was undertaken during the quarter.
  • The company maintained prudent cash management, closing with $1.9 million in cash.
  • Focus remains on obtaining approvals, refining project design, and seeking strategic partnerships.
  • Quarterly expenditure in line with forecast and no material variances reported.
  • No payments were made to related parties other than standard executive and director fees.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.