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Andromeda Metals Ltd.
Summary
| Project: | Poochera | |
|---|---|---|
| Deposit: | Poochera | |
| Location: | Australia | |
| Commodities: | Halloysite | |
| Date: | 4/6/2020 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 6-4-2020: Andromeda Metals Ltd. announces a Scoping Study report for its Poochera deposit at the Poochera project. Updated Scoping Study results incl. NPV (8%) of $544M and IRR of 175%. The Updated Scoping Study referred to in this announcement has been u | |
| Resources: | ||
| CP/QP: | [Overall Report]: Not stated (Not stated) | |
| ABSTRACT: | The Updated Scoping Study referred to in this announcement has been undertaken to determine the potential viability of a direct shipping and wet-processing operation to produce high-quality halloysite-kaolin product from the Kaolin Resource at Poochera in South Australia to provide Andromeda Metals with the confidence to undertake further and more detailed Feasibility Studies for the Project. It is a preliminary technical and economic study of the potential viability of the Poochera Halloysite-Kaolin Project. It is based on low level technical and economic assessments that are not sufficient to support the estimation of ore reserves. Further exploration and evaluation work and appropriate studies are required before Andromeda Metals is in a position to estimate any ore reserves or to provide any assurance of an economic development case. The Production Target referred to in this announcement is based on Measured and Indicated Resources for the mine life only, with Inferred Resources not considered. Andromeda Metals has concluded that it has reasonable grounds for disclosing a Production Target, however there is no certainty that the Production Target or preliminary economic assessment will be realised. | |
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