Garnet Mining News

Heavy Minerals Limited
Heavy Minerals Limited
HVY
Western Australia

HVY: Red Hill Moves to Maiden Resource - Garnet Dominates Samples

Heavy Minerals Limited has engaged Mineral Technologies to prepare a maiden JORC-compliant Mineral Resource Estimate for its Red Hill Garnet Project in Western Australia. New QXRD mineralogy results from 47 heavy mineral composites confirm garnet as the dominant mineral, ranging from 53% to 92% of the heavy mineral concentrate. This work represents a key step in converting the project's Exploration Target into a formal Mineral Resource.

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Heavy Minerals Limited
Heavy Minerals Limited
HVY
Unknown

HVY: Annual Report to shareholders

Heavy Minerals Limited reported a significant loss for the year ended June 30, 2026, and faces a material uncertainty regarding its ability to continue as a going concern due to a net working capital deficit. Despite financial challenges, the company made substantial progress on its projects, including completing a Pre-Feasibility Study for the Port Gregory Garnet Project, which returned a post-tax NPV of A$322.8 million and a 47.6% IRR, along with a maiden Probable Ore Reserve of 85.5 Mt at 4.43% THM. Additionally, the company secured a binding Tailings Processing Agreement for the Kanmantoo Garnet Project, targeting initial production in H1 2027.

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