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Anax Metals Limited (ASX: ANX, Anax, or the Company) and GreentTech Metals Ltd (ASX: GRE, GreenTech) are pleased to announce that they have signed a non-binding and non-exclusive Memorandum of Understanding (MoU) which sets out the terms on which Anax and GreenTech (together the Parties) agree to jointly assess the potential to treat GreenTech base metal assets, with a focus on the open-pittable Whundo deposit, at the fully-permitted Whim Creek Processing hub (Whim Creek).
- GreenTech Metals Ltd (GRE) and Anax Metals Ltd (ANX) sign Memorandum of Understanding (MOU) to assess potential to treat Whundo base metal deposit and other suitable GRE assets at Whim Creek processing hub.
- GRE and ANX forming a Pilbara Base Metal Alliance targeting in excess of 20ktpa Cu (eq) production from the Pilbara.
- Fully-permitted Whim Creek processing assets could provide near- term processing option for GreenTech’s open pittable Whundo deposit.
- Combined assets could provide significant operational, financial and corporate benefits.
- GRE and ANX to collaborate on feasibility studies and permitting.
Anax’s Managing Director, Geoff Laing, commented: “We are extremely pleased to take these first steps towards creating an expanded Pilbara copper business with our neighbours, GreenTech. We look forward to delivering scalable assets with near term “energy metals” production.”
GreenTech’s Executive Director, Tom Reddicliffe, commented: “This is a great opportunity for GreenTech that could see a formalised Alliance with Anax taking significant steps towards establishing near term mining operations at our Whundo Project. Our project already has defined open-pittable copper and zinc resources and potential to define additional near surface resource tonnes at both Yannery and Ayshia. The alliance could be the catalyst that the West Pilbara needs to become a significant copper producer and we look forward to working closely with Anax to make this a reality.”
The proposed Whim Creek Project (80% owned by Anax and 20% owned by Develop Global Ltd) will consist of a new 400,000 tonnes per annum concentrator, and a refurbished heap leach facility capable of treating oxide, transitional and supergene ore that is supported by robust project economics. 1, 2 & 3 By fully utilising its processing capacity, the Whim Creek hub could become a substantial West-Australian copper producer with a potential production profile of 20 to 30 ktpa copper equivalent and a mine-life greater than 10 years.
Whim Creek is located 115km southwest of Port Hedland in the West Pilbara region of Western Australia, and 100km northeast of GreenTech’s Whundo deposit. Whundo is located 40 km south of Karratha (Figure 1).
Figure 1: Location of the Whim Creek and Whundo Projects
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