Global Energy Metals' Partner Enters MOU With Austral Resources To Assess Toll Treatment Opportunities At The Millennium Project

Core Viewpoint - Global Energy Metals Corporation has announced a non-binding Memorandum of Understanding (MOU) with Austral Resources Australia Ltd for a strategic alliance regarding the toll treatment of ore from the Millennium Copper Cobalt Gold Graphite Project at Austral's Rocklands processing facility, which is located approximately 19 kilometers away from Millennium [1][2][3] Group 1: MOU Details - The MOU allows both parties to collaboratively assess the technical, commercial, logistics, and feasibility aspects of toll treatment of Millennium ore at Rocklands [4] - The MOU is non-binding and non-exclusive, meaning it does not commit either party to a formal transaction, and any binding agreement will require due diligence and feasibility analysis [4] Group 2: Project Significance - The MOU enhances Austral's strategy to establish Rocklands as a regional processing hub, which could improve early mill feed options and restart planning [5] - Access to third-party ore could accelerate throughput ramp-up and reduce operating costs, leading to stronger returns on existing infrastructure [5] Group 3: Millennium Project Overview - The Millennium Project holds a JORC 2012 Mineral Resource Estimate of 8.4 million tonnes at 0.09% cobalt, 0.29% copper, and 0.12 grams per tonne gold, equating to a 1.23% copper equivalent [3][6] - Global Energy Metals holds a 49% interest in Millennium and is fully carried on exploration costs as part of Metal Bank's earn-in for 80% of the project [3] Group 4: Future Exploration and Development - An application for an additional mining lease has been lodged to facilitate further exploration and operations for cobalt, copper, gold, and graphite resources [6][13] - The company is assessing the potential for further value from the Millennium Project by developing graphite potential, including surface mapping and metallurgical testing [13]