Recent progress at Prospect Ridge magnesium project

GWR Group Limited (ASX: $GWR) has reported significant advancements at the Prospect Ridge Magnesite project in northwest Tasmania. The project, in collaboration with Dynamic Metals (ASX: $DYM), contains the third largest Magnesite inventory in Australia and has made substantial progress in various aspects of the project.

Executive commentary on project advancements

After having bolstered our cash balance to more than $38 million with an additional ~$9 million of tradeable listed securities, we are delighted to have the resources to advance a project of such significance, not only to Tasmania but also Australia in moving towards domestic Magnesium production. With the recent partnership of University of Tasmania and Federal government funded Regional Research Collaboration Grant (RRC), research is being undertaken at the University Centre for Ore Deposit and Earth Sciences University of Tasmania ("CODES"). We are well advanced in which end-product magnesium market (or portfolio of products) we will be targeting and the metallurgical test work being undertaken will move us closer to supplying a low carbon, low waste, potentially "green magnesium" product to the sizeable Aerospace, Military, Automotive and Transportation sectors.

Summary of recent advancements and outlook

GWR Group (ASX: $GWR) has made significant progress at the Prospect Ridge Magnesite project, including collaboration with Dynamic Metals (ASX: $DYM) and the University of Tasmania for research and development. The project aims to enhance Australia's economy through environmentally sustainable production of critical metals. GWR is actively engaged in metallurgical test work, exploration of magnesite and other commodities, and government lobbying for infrastructure support. The company is focused on reducing contaminants and optimizing the flow sheet for magnesium production. Additionally, GWR plans to investigate historical gold, copper, and iron ore occurrences within the project. The company's ambitions include supplying a low carbon, low waste magnesium product to aerospace, military, automotive, and transportation sectors. GWR will continue to update the market as results become available, and the company remains committed to advancing the Prospect Ridge Magnesite project.