WESTERN AUSTRALIA HEAVY MINERAL SANDS (SER 100%, WESTERN AUSTRALIA)

AMBERGATE HEAVY MINERAL SANDS

SER has completed an internal techno-economic analysis of the Ambergate Heavy Mineral Sands project and has decided to advance the project. This early stage analysis will not satisfy ASX and JORC requirements and thus the results will not be released publicly.

At Ambergate, SER has defined a JORC 2012 Inferred Mineral Resource of 11.2.Mt grading 5.1% Heavy Minerals for a total Heavy Mineral content of 569,000t.

Ambergate Heavy Mineral Resource with surrounding heavy mineral mines

Market conditions for Heavy Mineral Sands continue to improve with strong growth and increasing commodity prices for titanium dioxide feedstocks and zircon driven by global urbanisation. Both are quality of life products with consumption increasing with global consumer affluence. The average Australian consumes more than two kilograms of titanium dioxide pigment per year. The average consumption in China is around half this amount, though this is changing rapidly. In addition to increasing demand, Heavy Mineral Sands has seen a significant inventory depletion in recent years. Existing producers’ mines are mature and grade decline is imminent.

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