# TMT - Technology Metals Australia



## System (26 October 2016)

Technology Metals Australia Limited has agreed to purchase a 100% interest in The Kop Ventures Pty Ltd which owns the Gabanintha Project, comprising of 4 prospecting licences and 1 exploration licence in the mid-West of Western Australia.

The Gabanintha Project area is located near the ghost town of Gabanintha in the Shire of Meekatharra, about 830 kilometres North-North-West of Perth and 40 kilometres South-East of Meekatharra. The Company has agreed to acquire the Gabanintha Project primarily for its potential for vanadium but there is the possibility that titanium and iron could also be present. Copper is also known to occur in the region. 

It is anticipated that TMT will list on the ASX during December 2016.

http://www.tmtlimited.com.au


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## doogie_goes_off (19 July 2018)

Up 240% for the year, is any one watching...


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## barney (20 July 2018)

doogie_goes_off said:


> Up 240% for the year, is any one watching...




No … but we should have been

Still a while till proposed Vanadium Production … 2021 but the *PFS* threw out some good numbers

$380 million start up costs expected to pay back in under 3 years … 

Life of Mine 13 years to begin before any resource upgrades  

Post Tax NPV $850 million

Small register/ tightly held …. 55 million shares  Only 33 million tradeable, hard to get in at a decent price now

$35 million Market Cap … Tiny Company with a big resource …. Potential takeover target in the future I'd assume.

PS Where you been Doogie


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## greggles (23 July 2018)

Up another 16.15% to 75.5c today. I haven't looked into the fundamentals of TMT yet, but it's certainly had a great month.


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## doogie_goes_off (2 August 2018)

Hiding under a rock Barney...


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## barney (3 August 2018)

doogie_goes_off said:


> Hiding under a rock Barney...




Lol … Hope you put that fish in the fridge!


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## doogie_goes_off (18 October 2018)

TMT have bounced back 10% yesterday after coming back from a capital raising sell down. Will be interesting to see if someone has accumulated in the dip.


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## doogie_goes_off (9 November 2018)

Good Vanadium results yesterday, expecting a steady climb back to old highs...


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## doogie_goes_off (29 March 2019)

Weak response to this news:

GABANINTHA  NORTHERN BLOCK RESOURCE  UPGRADE 

MEASURED  AND  INDICATED  MINERAL  RESOURCE  ESTIMATE INCREASED  BY  39% TO  30.1MT  AT  0.93%  V2O5  (JUNE  2018  PFS HAD 13  YR MINE LIFE  ON  21.6MT  INDICATED  RESOURCE). 


GLOBAL  HIGH  GRADE  MINERAL  RESOURCE  ESTIMATE INCREASED  BY  29%  TO  AN  OUTSTANDING  71.2MT  AT  1.1% V2O5. 

MAIDEN  BASE  METAL  RESOURCE  ESTIMATE  DEFINED ASSOCIATED WITH FRESH  MASSIVE MAGNETITE ZONE. 

DETAILED  HIGH  QUALITY  DEFINITIVE  FEASIBILITY  STUDY  ON TRACK  DUE  FOR DELIVERY  IN  MID  2019  BASED ON  UPDATED MEASURED AND INDICATED  RESOURCE ESTIMATE.


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## doogie_goes_off (21 May 2019)

Note the trading halt pending off take arrangements- a very stacked trading spread...


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## doogie_goes_off (6 June 2019)

Slight uptick in Vanadium price might be signs of a pulse - back above $8/lb in China. Fingers crossed that's the bottom.


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## doogie_goes_off (12 June 2019)

$8.50 V2O5 a pound now and news that ferrovanadium demand is on the rise - Metal bulletin.

The export price for ferro-vanadium in China rose for a second consecutive week in the latest assessment period ended on Thursday June 6, tracking the strength seen in the domestic market.


Fastmarkets MB assessed the export price for ferro-vanadium, min 78%, fob China, at $35-36.50 per kg on June 6, up by 2.1% from $34-36 per kg a week ago. Many Chinese ferro-vanadium exporters maintained firm offer prices last week on noticing that the domestic price has been on the rise amid resumed buying interest from both traders and mills in China.

Watch this space.


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## doogie_goes_off (22 August 2019)

DFS announcement provides some impressive metrics for the Gabanintha project incl. EBITDA of >4Bn.


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## barney (22 August 2019)

doogie_goes_off said:


> DFS announcement provides some impressive metrics for the Gabanintha project incl. EBITDA of >4Bn.




They could certainly use some positive news .. been a big fall from grace the last 12 months

So a $20 million market cap  … $3 million cash in the bank and only 87.5 million shares on issue

I'd say there is room for a solid re-rate

Little bit of time before proposed construction will be the only hurdle perhaps


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## Smurf1976 (14 October 2019)

barney said:


> They could certainly use some positive news .. been a big fall from grace the last 12 months



Down over 14% today so not going too well thus far.


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## Smurf1976 (16 October 2019)

Smurf1976 said:


> Down over 14% today so not going too well thus far.



With a rise of 10% the following day to a close of 16.5c


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## barney (16 October 2019)

Smurf1976 said:


> With a rise of 10% the following day to a close of 16.5c



Reverse Inside day … not a great looking chart but on the positive side they announced a $2.7 million R and D refund from the ATO/Gov today so that has to help a bit.

Not sure how accurate Morning Star are but they valued these guys at 29 cents back in August.  Does look a bit oversold at face value.


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## doogie_goes_off (1 July 2020)

Hello TMT watchers, please have a look at this news flow...

https://www.flsmidth.com/en-gb/comp...roasting-kiln-to-tmt-gabanintha-vanadium-mine


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## doogie_goes_off (1 July 2020)

Today we got this:

https://www.tmtlimited.com.au/sites/default/files/asx-announcements/6984590.pdf


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## doogie_goes_off (1 July 2020)

This describes the project:


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## doogie_goes_off (1 July 2020)

My FA:

Assume 21 yr mine life with 16 years of high yielding massive ore based on announcement figures.


Say that very conservatively payback at 4 years of massive ore > product and all the disseminated becomes un-economic.


Margin is $2.50 at the current shitty price (could use a real 2.80 but let’s be super conservative)


And assume 12 average years production at below name plate capacity at say 10,000tpa


=120,000t (X1000 x ~2.2 to get lbs V2O5) x 2.50c margin x {(assume only 16% off offtake forward sold plus 50% of the minimum take on the other two agreements comes good = 0.16 + (0.5x 0.4)} = x 0.36


= 237,600,000 of free income ($US) post payback x0.1 as the indicated ore factor (ie not even counting it as a reserve) = 23,760,000 MC US / number of shares on issue (122,400,000) = 19.4C in $US x Exchange @ 1.25 (worst scenario exchange rate) = 24.25c AUD SP on the basis of that discounted income. Go 8% like you would for an NPV = 22.3c AUD  


This is a minimum fundamental value of the company post announcement, albeit that traders will sell in at 23.5c on Tech Analysis as resistance @ 24c. Realistically the Indicated Factor should be a reserve factor of 60% for Probable Reserves as TMT will get these reserves (already 75% confirmed from DFS) and prove the 21+ year life. Taking this into account the SP should be $1.34 AUD fully risk rated at the most conservative levels barring sovereign risk and financing factors.


Anything below 22c post this announcement should have been a buy signal to bank shares with only minimal commodity price downside and incredible reserve and cash flow upside. The share price will never be below 10c again in my humble opinion. This is the premiere new pure Vanadium play in the world, make no mistake, it will make Largo look expensive to run once in steady state.


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## barney (1 July 2020)

Thanks for the update @doogie_goes_off 

Been a years since I looked at this one ... amazing the gyrations Specs can take in a short time frame

Could be on the start of the road back.


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## doogie_goes_off (15 September 2020)

Well we pumped through resistance at 24c. Assume there could be a new top 20 holder. Technically risk @ around 30c. Should trade in this range for a bit. Needs a couple of triggers to break out to old highs.


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## doogie_goes_off (12 October 2020)

Now broken through 34c with strong trading. New level and upward flag before a real breakout?? Been a good run over the last 2 months.


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## doogie_goes_off (26 October 2020)

38 getting wiped. Very short supply. Could have a 4 in front of the price today. Good news on development path with a LOM off take for the Iron concentrate LOI from Sino.


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## barney (26 October 2020)

doogie_goes_off said:


> Anything below 22c post this announcement should have been a buy signal  state.




Well called back in July Doog ...... I assume you have a big smile on your face today


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## doogie_goes_off (22 September 2021)

Cornerstone investor to come onboard either today or tomorrow (in Trading Halt), should see these projects get built. Get set when you can.


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## doogie_goes_off (23 September 2021)

$20M cap raised @ 37.5c with news flow to come - resource, reserve, metallurgical recoveries and a chance to leverage off RCF (big private equity) to get into production first.


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## doogie_goes_off (23 September 2021)

I don't usually believe in F/A but trend is your friend here IMO. If the upward trend holds (in green) then 47/48c by mid October.


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