GRV updates on Alpha Torbanite Project progress, QLD

Project Name: Alpha Torbanite Project

Project Location: Queensland (QLD), Australia

Project Stage: Preparing PFS

ProjectBank Summary: Greenvale Energy Limited (ASX: GRV) has provided a development update for its Alpha Torbanite Project in Central Queensland. The Company is adopting a staged development approach for the project, aiming initially at a 100,000 tonnes per annum (tpa) bitumen production plant, with plans to expand to 200,000 tpa. Early results from Liquefaction Test Program 4 support a long-life project capable of meeting growing domestic demand for bitumen. The Pre-Feasibility Study (PFS) is expected to be finalised in Q2 2024.

Greenvale Energy Highlights:

• Staged Development Approach:

  • Initial 100,000 tpa bitumen processing plant at Alpha, with plans to increase to 200,000 tpa.

  • Early results from Test Program 4 indicate robust oil yields.

• Pre-Feasibility Study (PFS):

  • PFS expected to be finalised in Q2 2024.

  • Key areas of mine planning, processing, and product marketing are advancing.

• Operational Efficiencies:

  • Straightforward extraction of ore from two shallow seams.

  • Environmentally sustainable practices including early separation of asphaltenes and recycling of oils.

MD/CEO Statement: Mark Turner, CEO of Greenvale Energy, commented: "We are now well and truly at the pointy end of bringing everything together for the Alpha Project PFS. Liquefaction Test Program 4 is progressing well and delivering very promising results which support the design premise for a facility initially capable of producing 100ktpa of bitumen and blended products over a 20-year plant life with significant expansion potential beyond that to 200ktpa."