The tenure is in the form of a Mining Lease (Arthur River Site) and two Retention Licences (Arthur River and Lyons River Site).
Beacon Hill acquired Tasmania Magnesite in October 2009.
Beacon Hill completed a Preliminary Scoping Study on the Arthur River Deposit in 2012; the deposit over which Tasmania Magnesite holds a mining lease.
The Study demonstrates the potential financial viability of the Arthur River Magnesite Project. Financial modelling, using a discount rate of 10% (real), demonstrated a pre-tax NPV of A$42 million based on a mine life of 17 years and a 292,000dtpa ROM operation producing on average 100,000tpa of calcined magnesia.