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Archer Exploration Ltd.
Summary
| Project: | Eyre Peninsula | |
|---|---|---|
| Deposit: | Eyre Peninsula | |
| Location: | Australia | |
| Commodities: | Graphite | |
| Date: | 9/19/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-9-2016: Archer Exploration Ltd. announces a Scoping Study report for its Eyre Peninsula deposit at the Eyre Peninsula project. Scoping study results incl. pre-tax NPV (10%) of A$126M, IRR of 62%. Archer Exploration Limited (ASX:AXE) (Archer or Company) | |
| Resources: | (Resource, Total): 8.55Mt @ 9.0% TGC for 770750t graphite contained at project total | |
| CP/QP: | [Overall Report]: Wade Bollenhagen (Internal) | |
| ABSTRACT: | Archer Exploration Limited (ASX:AXE) (Archer or Company) is pleased to advise that it has completed a scoping study for its Eyre Peninsula Graphite Project, located near the township of Cleve, South Australia. Archer Executive Chairman, Greg English, said “The Scoping Study showed that the Eyre Peninsula Graphite Project is an exciting project which can generate strong returns for Archer shareholders. “Archer has the enviable combination of high grade graphite resources, estimated low operating and capital costs and is able to produce a high purity concentrate that should be commercially attractive for use in Lithium ion batteries and other high value applications,” Mr English also said that the Project has the capacity to deliver a very solid platform for the Company from which to increase production rates and mine life, subject to the usual approval processes. “Based on these positive results from the Scoping Study, we plan to complete and lodge the Mining Lease Application and finalise all other project approvals at the same time with a view to Archer obtaining a granted mining lease in the middle of 2017.” | |
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