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BCI Minerals Ltd.
Summary
| Project: | Mardie | |
|---|---|---|
| Deposit: | Mardie | |
| Location: | Australia | |
| Commodities: | Potash | |
| Date: | 6/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-6-2018: BCI Minerals Ltd. announces a Pre-Feasibility Study report for its Mardie deposit at the Mardie project. PFS results incl. pre-tax NPV of A $335M (10%), IRR of 20%, 50yr LOM at project. Commenting on the PFS, BCI’s Managing Director, Alwyn Vorst | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Not stated (Not stated) | |
| ABSTRACT: | Commenting on the PFS, BCI’s Managing Director, Alwyn Vorster, said: “BCI gained ownership of the Mardie tenements at minimal cost in 2012 (as Iron Ore Holdings Ltd) and the team has now delivered an innovative and attractive project solution through the PFS at relatively low expenditure. “The attractive projected investment returns of >A$300M pre-tax NPV10, EBITDA of A$100M per annum, and potential to be a low-cost salt and SOP producer, make Mardie a compelling project for BCI to advance through the final feasibility study phase towards development. “Availability of large areas of suitable land and securing environmental approvals are key barriers to entry in this industry, and BCI is confident that, through our positive engagement with authorities and our approvals track record, Mardie is well placed to secure key development approvals by the end of 2019.” BCI’s Chairman, Brian O’Donnell, said: “The BCI Board considers the Mardie Project a compelling value proposition for the Company. Salt and SOP supply and demand projections are attractive, and the Board believes this project can deliver significant benefits to all BCI stakeholders and the Pilbara region. It is located in a proven salt production region, and the ability to engineer a SOP component during the design phase adds significantly to potential project returns. The Company looks forward to completion of the DFS, and progressing discussions with potential funding partners and other market participants.” Mardie is a salt and sulphate of potash (“SOP”) project 100% owned by Mardie Minerals Pty Ltd, a wholly owned subsidiary of BCI. The Project is located in one of the world’s premium locations for solar evaporation operations on the northwest coast of Western Australia, which also places it in an ideal location to access key markets in Asia. The Pilbara coast is Australia’s major solar salt production region, where five existing operations (Shark Bay, Onslow, Lake Macleod, Dampier and Port Hedland) are situated. The Project is located in the centre of this salt producing region. The total current production capacity of these existing operations is approximately 14 million tonnes per annum (“Mtpa”). Figure 1 illustrates the location of existing and proposed salt operations in Australia (including Mardie). Proposed Western Australian SOP operations are shown in Figure 2. | |
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