Group 6 Metals to Generate First Tungsten Concentrate from Dolphin Mine in Q1 2023

Tungsten is a critical mineral and demand remains robust in the US and Europe, while prices for tungsten concentrate continue to trend upward. Group 6 Metals (G6M) expects market demand for tungsten would continue to be strong, and G6M is targeting first tungsten concentrate from its Dolphin Mine on King Island, Tasmania, in the first quarter of 2023 (Q1 2023).

In a construction update, the company reiterated that the development of the Dolphin Tungsten Mine is progressing steadily according to plan. Keith McKnight, CEO of Group 6 Metals, said, "The Company is "very pleased" with the progress being made at the Dolphin Mine. The recently completed earthworks and the commencement of civil works are very important activities that will move Gekko Systems forward to begin construction work on the processing plant."

Mr. McKnight said the steady growth of the Dolphin mine was due to the company placing orders for major equipment in the middle of last year, which ensured that the project was delivered on time and on budget, while mitigating any "significant cost escalation" and delays.

Most of the major components of the equipment are expected to arrive on site by the end of next month, which will further reduce the risk to the project schedule. "The next six months will be a very busy period for the company and our team at the Dolphin”, Mr. McKnight said.

“We look forward to providing regular updates to the market as we progress. We are on schedule despite the challenging global environment that has impacted the availability of materials and labor. The installation of the main haul road and plant access road is underway as the earthworks for the processing plant are completed." added Mr. McKnight.

Meanwhile, civil works on the crushing circuit area of the Dolphin Mine are nearing completion and will be handed over to Gekko Systems for mechanical installation activities by the end of the month. The mine's power supply has been de-risked with the installation of an overhead power line connecting Dolphin to the island's electricity grid. Construction of the accommodation building has commenced, while work on the tailings storage facility will begin next month. Tungsten concentrate from dolphin tungsten ore is of great importance.

Group 6 Metals Limited is an Australian resource exploration and development company. The company's name commemorates the first commodity project being developed by G6M, Dolphin Tungsten, as tungsten is a member of Group 6 of the periodic table, along with chromium, molybdenum and seaborgium, as well as a mineral and geopolitically strategic resource.

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