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Avenira Ltd.
Summary
| Project: | Baobab | |
|---|---|---|
| Deposit: | Baobab | |
| Location: | Republic Of Senegal | |
| Commodities: | Phosphate | |
| Date: | 3/18/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 18-3-2019: Avenira Ltd. announces a Feasibility Study report for its Baobab deposit at the Baobab project. Feasibility Study results incl. post-tax NPV of US $212M, IRR of 25.5%, Initial ore reserve. Avenira Limited ('Avenira' or the 'Company') (ASX: AEV) | |
| Resources: | (Reserve, Prob.): 39.305Mt @ 18.9% P2O5 for 7446Kt P2O5 | |
| CP/QP: | [Overall Report]: Jeffrey Stevens, Gerrit Vos (Wood Plc) | |
| ABSTRACT: | Avenira Limited ('Avenira' or the 'Company') (ASX: AEV) is pleased to announce the completion of the Feasibility Study (‘FS’, ‘Feasibility Study’ or the ‘Study’) (Class 4 estimate) for the expansion of its 80%-owned Baobab Phosphate Project (‘Project’) in the Republic of Senegal to a projected high-grade phosphate rock mine with a concentrate product capacity of 1 Mtpa. The FS confirms the technical and financial robustness of a long-life operation for the Company’s Baobab Phosphate Project. This Feasibility Study is classified as an AACE Class 4 estimate with a ± 20% estimated accuracy. The “Bankable” or “Definitive” Feasibility Study (‘BFS’) phase intended to follow will target an AACE Class 3 estimate with a ±10% accuracy The FS is based on an open-pit strip-mining design and conventional flotation and magnetic separation ore processing plant operating at an ore throughput of 2.9Mtpa and a phosphate rock concentrate post ramp-up production rate of 1Mtpa. It determined that the Project’s Probable Ore Reserve is 39.3Mt at 18.9% P2O5. The Study indicates a technically sound and financially robust project, delivering post-tax unlevered NPV of US$212M and IRR of 25.5% over a 13.4-year mine life based on the Project’s Indicated Resource. Finalisation of the FS represents a key milestone in the evolution of the Project. The Company intends to initiate the BFS phase (Class 3 estimate) once the final project configuration has been confirmed as part of a planned value-engineering study. Concurrently, the Company intends to undertake more advanced and detailed discussions with potential funding parties. BFS completion is projected to take place during the December 2019 Quarter. | |
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