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Black Rock Mining Ltd.
Summary
| Project: | Mahenge | |
|---|---|---|
| Deposit: | Mahenge | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 10/24/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 24-10-2018: Black Rock Mining Ltd. announces a Feasibility Study report for its Mahenge deposit at the Mahenge project. DFS results incl. post-tax NPV of US $895M (10%), IRR 42.80%, 32yr LOM at the project. in Ulunga province, south central Tanzania. The | |
| Resources: | (Reserve, Prob.) 70Mt @ 8.5% TGC | |
| CP/QP: | [Resources]: Lauritz Barnes (Trepanier Pty Ltd.) | |
| ABSTRACT: | in Ulunga province, south central Tanzania. The DFS builds on an optimised Pre-Feasibility Study that was completed in July 2017. A detailed summary of the DFS is attached to this release. Commenting on the completion of the DFS, Black Rock Mining CEO, John de Vries: “When setting out to deliver our Definitive Feasibility Study our primary objective was to develop the study to point where it would support a bankability level of due diligence. With over 25,000 person hours using consultants and contractors with real graphite mine construction and operations’ experience, I am very confident we have differentiated ourselves, and delivered that on that outcome. The core element of the DFS was the operation of the 90 tonnes pilot plant, the largest plant ever run in the graphite sector at DFS stage. The plant provided invaluable data and operating performance for process plant design and flow sheet optimisation. Critically, the plant also delivered eight tonnes of concentrate with which we could engage customers and develop a dialogue around preferences and product attributes. We are confident that our approach to market segmentation, and a focus on channel strategy based on credible volumes of real products, will yield results with product offtake. This DFS leverages a number of competitive advantages unique to Mahenge. From a geology perspective, we established capacity to deliver the world’s highest grade floatation concentrate of +99% LOI Mahenge ULTRA PURITY-FP™. Being able to produce the highest grade concentrate available without chemical or thermal refining effectively future proofs the company as markets increasingly shift towards higher quality concentrates. Geographically, we have established the lowest cost logistics solution, by proving the viability, and preference for rail haulage to the Port of Dar es Salaam, the largest port in our region. We have put in place material solutions to move the environmental best practice and manage the site water balance through dry stacking. We have invested in Operational Readiness to avoid a post commissioning performance drop off, and to support our Tanzania centric operating model. We anticipate improvements in our capital cost once Yantai Jinyuan complete a program of metallurgical test work, and have run a small pilot plant as part of their due diligence process, however this has not been factored into the study economics. | |
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