Company Information for Vital Metals Ltd

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ASX; VML View full financial data

Company Statement

Vital Metals Ltd is a specialist tungsten and tungsten/molybdenum explorer and aspiring mine operator. Tungsten is a specialty material used predominantly as a “hard metal” for various applications.

The demand for these metals has risen sharply along with the price and a strong future is forecast for tungsten in particular.

Vital is concentrating its activities and expenditure on its flagship Watershed deposit in North Queensland, and has also commenced field work at Mt Mulgine and Mt Alexander.

Current Operations

Vital Metals Ltd is a public company which listed on the ASX in October 2005 to take advantage of the surging demand for minor steel alloying metals, specifically tungsten (chemical symbol W) and molybdenum (chemical symbol Mo). The company is concentrating on its activities within Australia at this stage.
World tungsten production has been dominated by China, which has produced more than 85 per cent of primary tungsten output in recent years. This continues to be the case but, as with many other metals, the price and marketing structure is undergoing changes. The tungsten price has risen very substantially over the past year and the projections appear strong. For more information see the 'Metals Market Overview' within this site.

At the present time there are no mines producing tungsten within Australia and there has been little or no exploration for tungsten minerals since the early 1980's.

Vital Metals has acquired an outstanding tungsten property in far North Queensland known as Watershed. Watershed was discovered in 1978 by the Utah Development Company which carried out extensive drilling and other work leading to an Inferred Resource estimate of 13.9 million tonnes at an average grade of 0.35%WO3.

Vital's principal activity since listing has been to conduct the work which is required to develop a substantial tungsten mine at Watershed. This includes drilling, metallurgical studies and the like.


A resource estimate has been received from RSG Global Consulting Pty Ltd for the Watershed deposit. The global resource figure, at a cut-off grade of 0.1% WO₃ , is 21.79 million tonnes at an overall grade of 0.26% WO₃ for a contained WO₃ content of 56,300 tonnes.

Geographical Spread

Australia

Board of Directors and Key Management

William James Ryan	Executive Chairman
Donald Ross Kennedy	Director
Andrew Vincent Simpson	Director
Colin John Hunter	Director

Company Address Level 1 335 Hay Street Subiaco East West Perth, Australia WA 6008, Australia Telephone: +61 8 9388 7742 Facsimile: +61 8 9388 0804 Email: vital[at]vitalmetals.com.au Website: http://www.vitalmetals.com.au

Additional Address/Key Contact Postal Address:  PO Box 8243 Subiaco East WA 6008 Australia

Capital VML Ordinary Shares - 104,926,253 Options (20 cent) expiring 31 August 2008 - 5,753,125

Annual General Meeting 22 November 2007, Celtic Club, West Perth

Year End 30 June

Nominated Brokers Bell Potter Ltd , Perth WA

Major Shareholders

Consolidated Minerals Ltd	13.53%
Stanley Macdonald	8.58%
Breamlea Pty Ltd	5.99%
Rytech Pty Ltd	5.36%

Related News

31/03/08 - Tungsten Is The Metal To Watch, According To Andy Haslam At Vital Metals
10/10/07 - Vital Steps Up The Pace at Watershed

Most Recent Statement

02/09/08 - Watershed Costs Support Healthy Operating Margins
20/08/08 - VITAL WELCOMES A NEW DIRECTOR
01/08/08 - First Results For 2008 Drilling At Watershed Extend Resource
18/07/08 - WATERSHED TUNGSTEN PROJECT - NEW RESOURCE ESTIMATES AND FEASIBILITY STUDY
02/07/08 - FURTHER CONFIRMATION OF THE SUCCESS OF X-RAY ORE SORTING OF WATERSHED ORE
26/05/08 - New Resource Estimate Expands Watershed Deposit