MGMF and Tartana Minerals Announced Strategic Partnership to Advance Copper Project

VI Group warmly congratulates Mt Garnet Mineral Finance Pty Ltd (MGMF) and Tartana Minerals Limited (ASX: TAT) on officially signing a binding Heads of Agreement (HOA) to advance the processing, production, and sale of Tartan’s copper ore at the Mungana plant on 14 April 2025.

Under the agreement, both parties will jointly undertake the project, targeting an initial production of 5,000 to 10,000 tonnes of copper concentrate. The open pit mine optimisation design has been completed, and the mining plan is currently under development. Meanwhile, the refurbishment assessment of the Mungana processing plant is actively progressing. Notably, the discovery of high-grade ore in the early stages of the project is expected to be directly processable, potentially reducing upfront capital expenditure significantly. This partnership also paves the way for long-term synergies in the future development of tenements in the Chillagoe region.

As the technical advisor to MGMF, VI Group has been deeply involved in the project’s due diligence, process review, and development planning. We highly recognise MGMF’s vision in activating resource assets and strategic positioning, and we believe this collaboration will deliver substantial value uplift for the company.

VI Group extends its sincere congratulations to both MGMF and Tartana and looks forward to the project’s smooth progress and achieving strong production and cash flow performance in the future.