Background
Yilgarn Infrastructure Limited (an Unlisted Public Company) was incorporated in New South Wales, Australia, in 2005 to facilitate the development of the Port and Rail Project in Western Australia’s Mid-West region on an open-access, multi‐user basis.
Yilgarn’s business plan, which had a CAPEX of $3 billion was to provide an independently owned and operated common‐user port and railway aligned to service all the region’s commercial mines to reach multiple existing and future users. Although Yilgarn secured total funding for the project, unfortunately, the port and railway project was submitted by the then government to a tender process, and Yilgarn failed to win that tender.
The Company has been in operation as an audited, unlisted public company for nearly 16 years, involved in investing in various start-up ventures. The Company has used two business names thus far, Yilgarn Infrastructure Ltd from 30th June 2005 and Yilgarn Minerals Ltd from 13th November 2018.
In 2015, the Company took the opportunity to acquire 100% of an exploration area near Mt. Isa in North Queensland, with the tenements being highly prospective for HPQ. The Company acquires the exploration license EPM 25894 from vendors.
The Company’s business plans involve the mining, part processing and export of high-purity quartz (HPQ) ore to China.
In 2016, the Company applied for and was granted a full exploration license on EPM 25894. Also in 2016, Greentech undertook preliminary exploration works on EPM 25894, including rock chip sampling and small-scale mining of surface quartz ore for testing.
In 2017, Greentech continued exploration and testing of the quartz deposit. The Company signed a memorandum of understanding with a Jiangsu Chinese HPQ processor Company to undertake trial processing and research to determine grade and HPQ potential for Greentech Queensland quartz. The Company entered into an MOU with the same company for future toll-processing and off–take agreements. GTM proves up a JORC resource at Maydowns and prepares a mine plan, and applies for a Mining License.
In early 2018, the Company was offered the opportunity to joint venture in the ownership of a factory with HPQ purification plant owned and operated by Sino Steel Technology Development Co Ltd at a cost of $A5 million. The factory and plant included all technology and full feasibility studies for a 2000-3000 ton p.a. HPQ purification facility.
Late in 2018, the Company agreed with Chinese partners who agreed to provide funding of A$5 million to acquire the factory and plant and enter a JV to provide management and know-how to run the plant. Greentech, as part of the JV, is to fund the refurbishment costs and supply the quartz ore from Queensland on an ongoing basis. Also, as part of the agreement, Greentech received the full ownership of all technology and feasibility studies for a 2000-3000 ton HPQ purification plant.
Late in 2018, the Company’s HPQ project was listed as a recommended investment by the Queensland Government Investment Corporation.
The Company undertook bulk sample mining at the Company’s Iceberg deposit in July 2019, with a portion of this ore being processed through a test plant in China and then further purified by a third party. This trial, study work, and sale of purified HPQ demonstrated the potential and increased confidence for Greentech to advance planning to become Australia’s first significant commercial producer of HPQ Feedstock for sale into the Asian HPQ processing industry. The Company’s May Downs deposit is considered its most suitable for mining in the immediate term due to the volume, grade, and proximity to Mt Isa. Furthermore, May Downs has granted a Mining Lease and, as such, was able to be mined shortly after funding was sourced to progress this critical step in the development of Greentech. GTM successfully undertakes capital raisings totalling A$2.5 million. In mid-2019, the Company trialled mining 500 tons of quartz ore and shipped 300 tons to China. In August of 2019, the Company had quartz ore from the Maydown deposit tested and processed in China with an independent HPQ processor who successfully confirmed the suitability of the quartz ore to produce grade I & II HPQ, which at the time sold for USD$4500 to USD$9,000 per ton.
In February 2020, COVID-19 hit the HPQ plant in China, and operations ceased for a lengthy period. Throughout 2020, the company raised additional working capital of approximately A$700,000. In mid-2020, the plant in China was commissioned and commenced processing Queensland Ore. In mid-late 2020, the company’s JV Chinese partners confirmed the successful production and sale of HPQ sand grade product and an HPQ crucible for the microelectronics market.
Following an Extraordinary General Meeting of shareholders on the 26th August 2021, the Company changed its name to Greentech Minerals Limited to better reflect its business model and its longer-term aspirations. The company decided to withdraw from the Chinese plant JV and sell their interest. Plans to build its own plant in Australia, as recognised revenue streams with Australian regulatory bodies for any future listing. In May 2021, the Company secured a long-term off-take agreement for quartz ore with the largest HPQ processor in China. Greentech’s total expenditure on the HPQ project since its acquisition in 2015 totalled approximately $5 million.
Greentech Minerals achieved a JORC-compliant HPQ resource of 388kt with significant room to add to this from existing EPM tenements nearby.
In 2024, together with partner universities and ANSTO, GTM was able to showcase that the famous Mt Isa 500km² tenements are prospective for iron-oxide copper-gold (IOCG) mineralisation (VTEM anomaly ~3.5km strike) and Sybella granite REEs (Nd/Pr/Dy/Tb, low-CAPEX heap-leaching validated by ANSTO).
2025 has seen GTM further strengthen its HPQ processing partnerships so that GTM HPQ can be sold into the most advanced of markets. Additionally, entering into a new round of shareholder and underwriter-funded Copper drilling, along the promising identified areas, through GTM exploration tenements.