The Board of Technology Metals Australia Limited announced that the company has entered into an Early Works Agreement (EWA) with APA Operations Pty Ltd. (APA Operations), a wholly owned subsidiary of APA Group Limited for the provision of certain early works by APA Operations in respect of the proposed development of the Gabanintha Gas Pipeline (Proposed Pipeline) as contemplated in the October 2020 Memorandum of Understanding (MOU) between APA Group and the Company. In addition to the early works, the EWA also provides a framework for the progression of the negotiations between APA Operations and the Company in respect of the further agreements required for the Proposed Pipeline. The Proposed Pipeline will be linked to the Northern Goldfields Interconnect (NGI), that is currently being constructed by the APA Group, which is a key piece of infrastructure in the State of Western Australia where TMT will be a user of this new infrastructure with the development of the Proposed Pipeline.

The Murchison Technology Metals Project (MTMP) consists of the Gabanintha Project (Gabanintha) and the Yarrabubba Project (Yarrabubba), located to the south of Meekatharra in the mid-west of Western Australia. Gabanintha was the subject of a Definitive Feasibility Study as a stand-alone vanadium development project, delivering robust economics over an initial 16-year mine life. The satellite Yarrabubba deposit offers higher vanadium in concentrate grades (than Gabanintha) and a highly sought-after titanium co-product, making it an attractive addition to the MTMP.

The integration of Yarrabubba into the MTMP, and the resultant opportunity to enhance the economics of the MTMP as well as the acceleration of the delivery of vanadium production, combined with the advanced stage of Gabanintha approvals, provides opportunities for TMT to actively progress offtake discussions with a range of counterparties across a range of industries and geographic jurisdictions. The MTMP will be a long term, low-cost stable producer of high purity vanadium, a critical mineral with a vital role to play in the efficient and effective deployment of renewable energy and reduction of emissions. The Project will also be a producer of the highly sought-after titanium by-product whilst mining and processing ore from Yarrabubba.