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Black Rock Mining Ltd.
Summary
| Project: | Mahenge | |
|---|---|---|
| Deposit: | Mahenge | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 8/8/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-8-2017: Black Rock Mining Ltd. announces a Pre-Feasibility Study report for its Mahenge deposit at the Mahenge project. Mahenge Resource and Reserve update and PFS results incl. Post tax NPV (10%) of $1.11B. Tanzanian graphite developer Black Rock Minin | |
| Resources: | (Reserve, Total): 211.9Mt @ 7.8% TCG for 16.6Mt TCG contained at project | |
| CP/QP: | [Resources]: L. Barnes, A. Platel, S. Tambanis (Trepanier Pty Ltd.;Platel Consulting Ltd.;Internal) | |
| ABSTRACT: | Tanzanian graphite developer Black Rock Mining Limited (BKT: ASX) (“Black Rock” or “the Company”) is pleased to announce the successful completion of the Optimisation Study of its previously released Preliminary Feasibility Study (“PFS”) (ASX Release 24 April 2017) for its 100%-owned Mahenge Graphite Project (“the Project”). The Optimisation Study adds a third staged module to take production to 250k tonnes per annum of 98.5% graphite concentrate for 31 years. The second and third modules are expected to be funded from cash flow, enabling the Company to deliver the entire operation for peak capital of only US$90.1m. This equates to industry leading peak capital of only US$360 per tonne per annum. This exceptional result is driven by relative high grade, low strip ratios and industry leading product quality and attributes. Black Rock’s Interim CEO and Executive Director, John de Vries commented: “The Optimisation Study successfully builds out our crawl, walk, run strategy, ultimately delivering a world-class mine based on any metrics. At a maximum run rate of 250k tonnes per annum, of the highest purity graphite concentrate on the market, with exceptionally low opex, and capex, this study places us in a strong competitive strategic position. As the market progressively starts to benefit from increased demand driven by the transition from petrol to electric vehicles, and demand for fire proofed panels for high rise buildings grows, demand for Mahenge’s premium product will grow. “We continue to be highly confident we have the most compelling development stage graphite project globally and intend to quickly move into our DFS phase to ensure construction risks are minimised.” | |
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