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American Pacific Borate and Lithium Ltd.
Summary
| Project: | Fort Cady | |
|---|---|---|
| Deposit: | Fort Cady | |
| Location: | United States | |
| Commodities: | Boron-Lithium | |
| Date: | 12/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-12-2018: American Pacific Borate and Lithium Ltd. announces a Feasibility Study report for its Fort Cady deposit at the Fort Cady project. DFS Results incl. post-tax NPV of US $1.25B (10%), IRR of 41%, 21yr LOM at the project. American Pacific Borate a | |
| Resources: | (Reserve, P+P): 41Mt @ 6.6% B2O3 | |
| CP/QP: | [Resources]: Louis Fourie (Terra Modelling Services Inc.) | |
| ABSTRACT: | American Pacific Borate and Lithium Limited (ASX:ABR) (“ABR” or the “Company”) is pleased to announce it has completed the next step for its flagship Fort Cady Borate Project in California, USA, the Definitive Feasibility Study (“DFS”). The DFS was substantially prepared by US headquartered Barr Engineering with the support of mineral processing expert Mr Mike Rockandel. The Reserve calculation and sign off was completed by Mrs Tabetha Stirrett of US headquarterd RESPEC Consulting Inc. ABR’s CEO and Managing Director, Michael Schlumpberger, commented: “We believe the Fort Cady DFS demonstrates an outstanding boric acid and SOP project driven by low upfront capex, high margins and low technical risk. We are targeting a staggering US$321m EBITDA in our first full year of production which makes our Fort Cady Borate Project a substantial mining project in a low risk, supportive jurisdiction. We intend to move quickly into a detailed engineering phase with a current target to commence construction in Q4 CY2019 subject to finance and permitting. The DFS certainly supports our ambition to become a globally significant producer of borates.” American Pacific Borate and Lithium Limited is focused on advancing its 100% owned Fort Cady Borate Project located in Southern California, USA. Fort Cady is a highly rare and large colemanite deposit and is the largest known contained borate occurrence in the world not owned by the two major borate producers Rio Tinto and Eti Maden. The JORC compliant Mineral Resource Estimate and Reserve is presented below. Importantly, it comprises 13.93Mt of contained boric acid. In excess of US$60m has been spent at Fort Cady, including resource drilling, metallurgical test works, well injection tests, permitting activities and substantial small-scale commercial operations and test works. A Definitive Feasibility Study (“DFS”) was completed in December 2018 delivering compelling financial metrics including steady state production target of 410ktpa of boric acid and 110ktpa of SOP, pre production capex including a 13% contingency of US$138m, unlevered post tax NPV10 of US$1.25bn (NPV8 of US$1.59bn) and an unlevered post tax IRR of 41%.. | |
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