Heavy Minerals Limited
HVY.AX
Australian Securities Exchange0.42
AUD
+0.02
- -
Heavy Minerals Limited
HVY.AX
(Australian Securities Exchange)
Recent
price
0.42
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Heavy Minerals Limited (ASX:HVY) is an Australia-based industrial minerals exploration and development company focused on garnet and heavy mineral sands projects. The company holds 100% ownership of the Port Gregory Garnet Project and Red Hill Garnet Project in Western Australia; Port Gregory features a JORC-compliant mineral resource of 166 million tonnes at 4.0% total heavy minerals containing 5.9 million tonnes of garnet, with a completed scoping study outlining a 16-year mine life, net present value of $253 million, and capital cost of $110 million; Red Hill has an exploration target of 90 to 150 million tonnes at 4.1% to 5.4% total heavy minerals containing 3.8 to 4.5 million tonnes of garnet. It also owns 70% of the Inhambane Mineral Sands Project in Mozambique, which hosts a JORC-compliant inferred resource of 90 million tonnes at 3.0% total heavy minerals prospective for zircon, rutile, and ilmenite. These projects target markets in shipbuilding, infrastructure maintenance, and corrosion control, leveraging high-quality garnet for abrasive applications; operations span Australia and Mozambique, with additional historical interests noted in Mauritius. Founded in 2021 and headquartered in Belmont, near Perth, Western Australia, the company listed on the ASX in September 2021. Recent developments include a pioneering syndicated non-dilutive pre-paid royalty funding round of $2.12 million completed in early 2024 to advance the Port Gregory pre-feasibility study (PFS) awarded to IHC Mining, with financial modeling nearing completion as of late 2025; additional capital raises via an at-the-market subscription agreement with Acuity Capital, including $200,000 in 2025 and share issuances such as 300,000 new shares in September 2025; a February 2024 capital raising and share purchase plan to fund the Port Gregory PFS; and a September 2025 quarterly activities report highlighting PFS progress.