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Arafura Resources Ltd.
Summary
| Project: | Nolans | |
|---|---|---|
| Deposit: | Nolans | |
| Location: | Australia | |
| Commodities: | Rare Earth | |
| Date: | 2/7/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 7-2-2019: Arafura Resources Ltd. announces a Feasibility Study report for its Nolans deposit at the Nolans project. DFS results incl. post-tax NPV of A $729M (10%), IRR of 17.43%, 23yr LOM at the project. Arafura Resources Limited (ASX:ARU) (Arafura or th | |
| Resources: | ||
| CP/QP: | [Overall Report]: David Billington (Mining Plus Pty Ltd.) | |
| ABSTRACT: | Arafura Resources Limited (ASX:ARU) (Arafura or the Company) is pleased to announce the results of the Definitive Feasibility Study (DFS) for its 100%-owned Nolans Neodymium-Praseodymium (NdPr) Project (the Project) 135 kilometres north of Alice Springs in the Northern Territory of Australia, which indicates the Project is financially and technically robust to support a long life operation. The DFS utilised expert consultants in all significant aspects including estimating Ore Reserves, capital costs and operating costs and has delivered a technically strong and cost-competitive project forecast to generate an average of A$377 million EBITDA per annum over a 23-year mine life. Arafura’s Managing Director Gavin Lockyer described the outcome as outstanding which highlights Nolans’ status as the next potential scale producer of NdPr oxide outside China. “The DFS confirms Nolans as an ultra low-cost producer sitting in the industry’s lowest cost quartile. We are particularly pleased to note that forecast average annual production of NdPr oxide of 4,357 tonnes is 21% higher than previously expected, positioning Nolans as the world’s most significant longterm NdPr development projects in a premier mining jurisdiction. Along with having secured environmental approvals, delivery of the DFS adds to the platform from which the Company can now complete the remaining milestones for Nolans – binding offtake, permitting and project finance – ahead of a targeted construction start in 2020 and commissioning in 2022.” | |
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