Recent developments on the project, which was acquired in September last year, include the maiden resource of 298 mt at 0.87% rutile and 1.19% graphite (TGC), production of a high-quality Rutile product of +96% TiO2 from the bulk sample, completion of infill resource drilling and commencement of a 5 000 m ~ 20 m deep air-core drilling to test the deeper rutile mineralisation potential, of which the results are expected by year-end. Fortuna Metals is working towards first production by 2029. As a testament to the attractiveness of the asset, the emerging miner recently inked a strategic investment and partnership deal with WNDR, a USA based investment firm.
WNDR is a Silicon Valleyā€“based, technology-focused investment firm with over US$3 billion in assets under management. The firm has a growing interest in the critical minerals ā€“ including titanium ā€“ that underpin the next generation of AI, robotics, defence, and advanced technology applications. The investment by WNDR comprises A$8.6 million for 19% of the company. Beyond American financial muscle, WNDR, offers exposure within the US titanium, graphite and rare earth manufacturers and supply chain.