Vital Metals Kicks Off BFS for Watershed

Sep. 14, 2011 02:23PM PST

Mining Weekly reported Vital Metals (ASX:VML) said its JV partner has made its first earn-in installment for a tungsten project, allowing work to begin.

The market news is quoted as saying,

JOGMEC could earn a 30% shareholding in the Watershed project by spending $5.4-million over the earn-in period to fund the completion of the BFS.

The previous feasibility studies into the Watershed project have indicated that a capital investment of around A$70-million would be needed to fund a 610 000 t/y operation, delivering around 18 000 t of tungsten concentrate over an initial six year life-of-mine.