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Battery Minerals Ltd.
Summary
| Project: | Balama Central | |
|---|---|---|
| Deposit: | Balama Central | |
| Location: | Mozambique | |
| Commodities: | Graphite | |
| Date: | 12/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 12-12-2018: Battery Minerals Ltd. announces a Feasibility Study report for its Balama Central deposit at the Balama Central project. FS results incl. pre-tax IRR of 55%, 27yr LOM, Initial ore reserve. Battery Minerals Limited (ASX: BAT) is pleased to anno | |
| Resources: | (Reserve, Prob): 19.66Mt @ 11.06% TGC | |
| CP/QP: | [Overall Report]: Jon Hudson (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | Battery Minerals Limited (ASX: BAT) is pleased to announce that a Feasibility Study has found that its second proposed graphite project in Mozambique, Balama, will cost just US$69.4 million to develop and generate outstanding financial returns. Balama’s strong outlook is highlighted by the Study’s finding that it will generate average free operating cashflow of US$35 million a year and have a pre-tax internal rate of return of 55 per cent. The project’s payback period is estimated at two to three years. The Study underpins a maiden Ore Reserve at Balama of 19.7Mt at 11.1% TGC for 2.2Mt of contained graphite reported at a cut-off grade of 6% TGC. Battery Minerals Managing Director David Flanagan said Balama was a top-class project with some of the best product sizing classification, operating costs, concentrate purity and economic returns in the graphite sector. “The Balama Central Graphite Project immediately adjoins the world’s largest graphite export operation, which is currently being delivered into all the world’s major lithium ion battery manufacturing markets,” Mr Flanagan said. | |
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