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Battery Minerals Ltd.
Summary
| Project: | Montepuez | |
|---|---|---|
| Deposit: | Montepuez | |
| Location: | Mozambique | |
| Commodities: | Graphite | |
| Date: | 2/15/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 15-2-2017: Battery Minerals Ltd. announces a Feasibility Study report for its Montepuez deposit at the Montepuez project. Feasibility study results incl. NPV (10%) of US$146M, IRR of 21.4%. Battery Minerals Limited (ASX: BAT) (“Battery Minerals”, BAT or t | |
| Resources: | (Reserve, Prob.): 41.4Mt @ 8.80% TGC for 3.64Mt of flake product (4% TGC Cut-off) at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Battery Minerals Limited (ASX: BAT) (“Battery Minerals”, BAT or the “Company”) is pleased to announce the results of the Definitive Feasibility Study (“DFS) completed on Battery Minerals’ Montepuez Graphite Project in Mozambique. Commenting on the study results, Battery Minerals Managing Director, Cherie Leeden, said: “Within a two year period, our team has made a greenfields graphite discovery which we have transformed into a full scale Montepuez Graphite Project Definitive Feasibility Study, resulting in extremely compelling economics. Over the next few months, we will explore the opportunity to fast track production and significantly reduce our CAPEX via considering secondhand equipment. We will investigate OPEX reduction via considering a higher grade/shorter mine life scenario combined with significantly improved recoveries and concentrate grade using attrition cells.” Montepuez Graphite Project DFS targeted annualised production rate of 100,000tpa of 96% TGC concentrate produced from ore sourced from the Elephant and Buffalo deposits respectively. The ore will be mined by simple open pit extraction methods enhanced by the sub cropping shallow and tabular orebody allowing ore to be mined from the near surface. The DFS has highlighted a very attractive LOM strip ratio of 0.6 tonnes of waste per tonne of ore, providing the Project with a very low operational mining cost. The project contains a JORC compliant Probable Ore Reserve estimate of 41.4Mt @ 8.8% TGC for 3.64Mt of contained graphite at a cut-off grade of 4% TGC. | |
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