Latrobe Magnesium (ASX: LMG)

Updated the market in respect of their Latrobe Valley magnesium Project.

The site is now remediated and ready for major construction. Project activities continue with the achievement of 30% engineering, completion of the early works program, and the tendering of key long lead time equipment.

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LATROBE MAGNESIUM VALLEY PROJECT UPDATE

MARCH 2022

Latrobe Magnesium (ASX: LMG) Latrobe Valley Project Update

Highlights:
Site remediated and now ready for major construction.

Project activities continue with the achievement of 30% engineering, completion
of the early works program, and the tendering of key long lead time equipment.

Longest lead items the Spray Roaster and Reduction Furnace have been issued
for tender, with award targeted for next month.

Construction activities started with Security Gatehouse, Administration
Building and carpark tendered for construction to allow mobilisation for major
construction contractors.

Suppliers’ Town Hall held on 18th of February 2022 at the Morwell Innovation
Centre to qualify local suppliers and contractors to participate in upcoming
tenders for equipment and services.

Early works for the demonstration plant have been completed and have been successful in allowing for the remediation and preparation of the site for major construction.

This will allow LMG to focus on construction activities necessary for the construction of the plant.

Additionally, the longest lead item, the Spray Roaster, has been issued for tender along with the Reduction Furnace.

Whilst continuing to tender the remaining equipment required for the demonstration plant, LMG’s coming focus will be on the finalisation of several design and engineering process milestones including 30% design review, critical HAZOP workshops and the preparation of the major construction packages for tendering.

With the process, piping and instrumentation diagrams finalised and the plant layout frozen, Mincore’s Mechanical, Structural and Electrical & Instrumentation engineering disciplines are completing the engineering deliverables necessary for procurement and construction.

Mincore will continue to progress the equipment specifications and datasheets for the remaining equipment required in preparation for tender, including the Multi-Effect Evaporator, Briquetting, Filtration, Thickening and other minor equipment.
Mincore have been on-site to evaluate the completed early works and the layout of the site and to begin preparation for the construction of the plant. LMG have tendered the administration building and mobilisation with the recommended contractor is underway.

Once completed, the LMG and Mincore team will mobilise to site to oversee the remaining construction of the demonstration plant.

For brevity, this summary has been redacted, to read the full news release, please click HERE

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Latrobe Magnesium (ASX: LMG)

Has been added to the second tier ‘Championship’ watchlist of City Investors Circle.

The company is developing environmentally friendly magnesium producing technology, giving them an edge in minimal co2 emissions, and a much lower production price then the Chinese producers, who dominate the industry producing around 87% of world supply.

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City Investors Circle add Latrobe Magnesium to our Tier 2 watchlist.

Latrobe Magnesium (ASX: LMG)

Has been added to the second tier ‘Championship’ watchlist of City Investors Circle.

The company is developing environmentally friendly magnesium producing technology, giving them an edge in minimal co2 emissions (60% lower), and a much lower production price then the Chinese producers, who dominate the industry producing around 87% of world supply.

Very briefly, Latrobe is aiming to provide an alternative supply of environmentally friendly magnesium to a market that is 87% controlled by China.

It is a critical metal for the EV industry as it enables the weight of electric vehicles to be reduced to compensate for the additional weight of the batteries over a conventional engine.

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Latrobe Magnesium is uniquely placed to meet increasing worldwide demand for magnesium as a result of:

• Australia’s global framework of free trade agreements, with major markets including Japan and the USA.
• Industry leading emissions standards.
• A global trend towards critical material supply chain diversification.
• The growing demand for magnesium across a broad range of products and economic sectors.

Competitive Advantage