The Board of Resource Development Limited announced that its 100% owned Lucky Bay Garnet Project (formerly the Balline Garnet Project) has been approved for development. Project Summary: Funding secured through commissioning and first production via a $60 million loan; Approval to commence onsite construction during Third Quarter 2021; Mining equipment selected and processing plant detailed design nearing completion; Orders for long lead items placed; First production scheduled for First Quarter 2022. RDG has recently undertaken a drilling program and is expecting to be able to provide a resource update within the next month. Previously disclosed Mineral Resources indicate an eight-year mine life. Construction is estimated to take approximately six months by RDG subsidiary Central Systems and, during this time, the project will employ 70 people onsite. Capital cost is estimated at $60 million. The project is targeting production of 130ktpa garnet with the product to be exported through the Ports of Fremantle and Geraldton to global markets. Overview: On the 1st February 2021 RDG announced that it had successfully acquired the Balline Garnet Project. RDG set about fast tracking development of the project by commencing early onsite works, drilling to upgrade and extend the resource, establishing ground water production bores and finalising geotechnical designs to enable earthworks to commence by Third Quarter 2021. The project is fully funded and technical support is being provided by RDG's major shareholder, Mineral Resources Limited. The table below provides a breakdown of the overall estimated cost to build the plant and commence operations. Detailed engineering and design of the Mining Unit Plant (MUP), Wet Concentrator Plant (WCP), Mineral Separation Plant (MSP) and the Screening and Packaging Plant (SPP) is now complete with detailed electrical design well underway. Contracts for long lead items have been executed to ensure the equipment is delivered on time and all equipment vendors remain on target to meet their delivery schedule. Offsite fabrication of key component of the plant will commence during July. The modular design of the processing plant will enable the construction division of RDG, Central Systems, to efficiently transport the modules to site and rapidly complete construction and assembly. Initial marketing enquiries confirms strong interest in the premium garnet products that will be produced at the Lucky Bay Garnet mine, especially from distributors in Europe and North America.