King Island Scheelite Limited (now Group 6 Metals Limited) - April 2014 Report

King Island Scheelite is looking to fast track their King Island Scheelite project, with an aim to commence production possibly as soon as early 2016. This historical high grade producer still has significant open cut and underground resources, at grades significantly higher than ASX-listed peers. The key to the King Island project is its grade – an average LOM feed grade of ~0.83% WO3 contributes to a potentially robust operation. There is also good exploration potential on the flanks of the mineralising intrusives. The register is dominated by key stakeholders in the project (including the directors), and hence we see significant motivation to generate value in the Company, which will benefit all shareholders. We see good value in King Island Scheelite, with our high level economic analysis indicating a robust project with a potential value well above current price levels. Key price drivers will include securing an offtake deal, and, down the track, successful project funding and then execution. Download the report for more information…

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