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Birimian Ltd.
Summary
| Project: | Bougouni | |
|---|---|---|
| Deposit: | Goulamina | |
| Location: | Mali | |
| Commodities: | Lithium | |
| Date: | 10/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-10-2017: Birimian Ltd. announces a Pre-Feasibility Study report for its Goulamina deposit at the Bougouni project. PFS results incl. pre-tax NPV(10%) of US$85.6M, IRR of 21%, LOM of 14yrs. Birimian Limited (ASX: BGS; Birimian or the Company) is pleased | |
| Resources: | (Resource, I+I): 32.9Mt @ 1.37% Li2O for 451kt Li2O contained at project | |
| CP/QP: | [Resources]: Matt Bampton (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Birimian Limited (ASX: BGS; Birimian or the Company) is pleased to announce the completion of the Pre-Feasibility Study (PFS) for the Goulamina Lithium Project (Goulamina or the Project) located in southern Mali. This announcement summarises the findings of the PFS, which was completed to an overall estimate accuracy of +/- 25%. The PFS is based on an Indicated Mineral Resource. The PFS envisages a Project operational mine life of 9 to 14 years, processing between 14.0Mt at 1.39% Li2O and 20.6Mt at 1.31% Li2O. The plant would produce a 6% Li2O concentrate production at an average recovery of 80.7%, demonstrated by metallurgical testwork. The estimated capital cost ranges from US$86.9M to US$142.0M, including contingency. The Project has an NPV at a 10% discount rate (NPV10) of between US$85.6M and US$126.4M. Inclusion of secondary processing lifts Project NPV10 to US$637.9M for an estimated additional capital cost of US$221.0M for concentrate-only scenarios. The Project is sensitive to scale therefore expansion of the existing Mineral Resource may be expected to increase NPV10. Birimian Executive Director and CEO, Greg Walker, said: “The PFS demonstrates that Goulamina is potentially a robust project, both technically and economically, based on the current Indicated Mineral Resource. The recent shallow-hole drilling results delineating additional lithium-bearing pegmatite anomalies at Yando, Sabali and Danaya have highlighted the exploration potential of the Project area. The forthcoming drilling program on these targets may increase the Project’s Mineral Resource base, which in turn would redefine and enhance the preferred development strategy.” | |
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