King Island Scheelite Ltd (ASX:KIS)

King Island Scheelite Limited is listed on the ASX (“KIS”) focused on the redevelopment of its 100% Dolphin tungsten project on King Island, Tasmania.

Dolphin Project

Project Details

Geology

Following a drilling programme in the last calendar quarter of 2014, comprising 42 diamond core-holes for 1,660 metres of drilling the Company has, together with its historical data, updated its 2012 JORC compliant reserves and resources to be:

Mineral Reserves of 3.14Mt at a grade of 0.73% WO3 (at 0.2% cut-off)

Mineral Resources, including the Mineral Reserves, of 9.6Mt at a grade of 0.90% WO3 (at 0.2% cut-off)

Refer the ASX Release dated September 2015.

The Dolphin pit was dewatered in 2014 down to the sump level, just below the old underground portal.

Mining Operations

A detailed mine plan and schedule has been developed by Xenith Consulting which will allow for 8 years of open cut mining at an average rate of 400,000 tonnes per annum of ore.

Processing Plant

The Dolphin Project plans to construct a processing plant on site with annual capacity of 400,000 tonnes. Laboratory test work is still in progress but results are pointing to a simple and cost effective gravity based flowsheet, together with a small flotation circuit, being employed for project start up. Once in production the processing plant may be expanded to increase plant recovery.

Infrastructure

King Island is positioned mid-way between Victoria and Tasmania, and is well serviced by sea and air transport. The main deep water port for the island is located approximately 1 km from the mine site, and the airport is less than 30 minutes away by sealed road.

It will be necessary to provide additional power, as the island’s existing supply is insufficient to meet the Project’s needs. The township of Grassy is largely privately owned. The Dolphin Project does not intend building extensive staff housing, but has the potential to access a variety of appropriate accommodation arrangements for mine personnel.

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Last updated 4th April 2019

JOHANN JACOBS
Executive Chairman
B.Acc., MBL.

Johann has over 35 years’ experience in the resources industry in Australia, South Africa and Indonesia. He is also non-executive director of ASX listed Magnis Resources Ltd (ASX: MNS) (formerly Uranex Limited).

CHRIS ELLIS
Executive Director
BSc Hons

Chris has over 35 years’ experience in the exploration and mining industry in Australia and overseas. He was a founding member and Executive Director of coal mining company Excel Coal Limited, which became Australia’s largest independent coal mining company before being acquired by Peabody Energy Inc. in October 2006. Chris commenced his career in the UK coal industry, followed by positions within Shell’s exploration group in Southern Africa and CRAE in Western Australia. He has also held senior positions for BP Coal (London and USA), Agipcoal Australia and for the Stratford Joint Venture. Chris has core skills in geology, mining engineering and minerals processing, mainly in the coal industry with some experience in tungsten, gold, base metals and diamonds. He has had overall responsibility for the design and engineering of four new mines during his career with Excel. Chris is a Non-Executive Director of Ausquest Limited (ASX: AQD).

GREG HANCOCK
Independent Non-Executive Director
BA Econs, B.Ed Hons, F.Fin

Greg has over 25 years’ experience in capital markets, practicing in the area of Corporate Finance. He has extensive experience in both Australia and the United Kingdom through his close links to the stockbroking and investment banking community. His career specialised in mining and natural resources with a background in the finance and management of listed companies. He is chairman of Ausquest Ltd (ASX: AQD); BMG Resources Ltd (ASX: BMG); Non-Executive Director of Golden State Mining Ltd (ASX: GSM); Strata- X Energy Ltd (ASX: SXA); Zeta Petroleum Plc (ASX: ZTA) and Cobra Resources Plc (LON: COBR).

Greg continues his close association with the capital markets in Australia and the United Kingdom, through his private company Hancock Corporate Investments Pty Ltd.

Last updated 4th April 2019

PRINCIPAL PLACE OF BUSINESS:

Level 26, 259 George Street
Sydney NSW 2000

GPO Box 5154
Sydney NSW 2001

REGISTERED OFFICE:

Level 26, 259 George Street
Sydney NSW 2000

Telephone: +61 (0)2 8622 1402
Email: [email protected]

ABN 40 004 681 734

ABN 40 004 681 734

Directors

Johann Jacobs (Executive Chairman)
Chris Ellis (Executive Director)
Allan Davies (Non-Executive Director)

Project Manager

Alvin Johns

Company Secretary and Chief Financial Officer

Ian Morgan

Financial Controller

Sue Jolliffe

REGISTERED OFFICE & PRINCIPAL PLACE OF BUSINESS

Suite 26.03
Level 26, 259 George Street
GPO Box 5154
Sydney NSW 2001

P:  +61 2 8622 1402
W: www.kingislandscheelite.com.au
E:  [email protected]

AUDITOR

KPMG
Tower 3
International Towers
300 Barangaroo Avenue
SYDNEY NSW 2000

P:  +61 2 9335 7000
F:  +61 2 9335 7001
W: www.kpmg.com.au

SHARE REGISTRY

Computershare Investor Services Pty Ld
Yarra Falls
452 Johnston Street
Abbotsford VIC 2067

TELEPHONE:

+61 3 9415 5000 (main switchboard)
+61 3 9415 4000 (investors)
1300 850 505 (investors within Australia)

F:  +61 3 9473 2500
W: www-au.computershare.com

Last updated 4th April 2019