Group 6 Metals Limited (ASX: G6M), previously known as King Island Scheelite Limited (ASX: KIS), is an Australian resources exploration and development company. The Company’s name honours tungsten as Group 6 Metals’ first commodity project (The Dolphin Tungsten Mine) under development, as tungsten is a member of Group 6 of the periodic table along with chromium, molybdenum and seaborgium, as well as being a critical mineral and a geopolitically strategic resource.
The Company is focused on the redevelopment of its 100%-owned Dolphin Tungsten Mine located on King Island, Tasmania. Initially the focus is on producing a high grade of tungsten concentrate, however, plans are to value-add the concentrate for supply into the upstream tungsten industry.
Previously operated between 1917 and 1992, the Dolphin Tungsten Mine was closed due to extremely low tungsten prices with approximately 50% of the known mineral resource yet to be mined.
Today, the Dolphin Tungsten Mine hosts the highest-grade tungsten deposit of significant size in the western world. Tungsten prices have also increased significantly, with it now classified as a critical mineral by the Australian Government, as well as others around the world.
In recent years, G6M has optimised a redevelopment strategy for the Dolphin Tungsten Mine, which contains a JORC 2012 compliant Mineral Reserve of 4.43Mt at a grade of 0.92% WO3 (at 0.2% WO3 cut-off for the opencut and 0.7% WO3 for the underground). Mineral Resources, including the Mineral Reserves, total 9.6Mt at a grade of 0.90% WO3 (at 0.2% WO3 cut-off).
The redevelopment plan envisages an eight-year open cut mine followed by a six-year underground operation, producing a 63% WO3 concentrate for supply into the Ammonium Paratungstate (APT) tungsten market.
The Dolphin Tungsten Mine is located near the town of Grassy on the south-east coast of King Island, the most western large island in the Bass Strait between Victoria and Tasmania.
G6M is executing a plan to sustainably redevelop the Dolphin Tungsten Mine in a manner which preserves the environment around Grassy and the mine. Conservation on King Island is of high importance to Group 6 Metals and is central to the Company’s redevelopment activities.
The Company is prioritising local residential employment wherever practical and expects to create a significant number of jobs during construction and operation of the mine.
