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Centrex Metals Ltd.
Summary
| Project: | Ardmore | |
|---|---|---|
| Deposit: | Ardmore | |
| Location: | Australia | |
| Commodities: | Phosphate | |
| Date: | 2/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 28-2-2019: Centrex Metals Ltd. announces a Feasibility Study report for its Ardmore deposit at the Ardmore project. Updated DFS results incl. post-tax NPV of AU $192M (5%), IRR of 54%, 10yr LOM at the project. Centrex Metals Limited (“Centrex”) is pleased | |
| Resources: | (Reserve, P+P): 10.1Mt @ 30.2% P2O5 | |
| CP/QP: | [Overall Report]: Ben Brown (Optima Consulting and Contracting Pty Ltd.) | |
| ABSTRACT: | Centrex Metals Limited (“Centrex”) is pleased to announce results from its optimisation studies for its flagship Ardmore Phosphate Rock Project (“Ardmore”) in North West Queensland. Optimisation studies commenced after the completion of the DFS for the project in October 2018, whilst the Company has been awaiting completion of fabrication on its start-up operation modular process plant due for commissioning in mid-2019. The start-up operation will provide a series of trial shipments to potential customers to secure long-term offtake for the project to support project financing for full-scale operations. Optimisation of the Ardmore DFS comprised a series of independent reviews of the study by external consultants to identify and assess cost saving design opportunities. In parallel to this, Centrex worked with suppliers and vendors to refine the project requirements and obtain pricing updates. The Ore Reserves, mine life and production rate remained unchanged for the optimisation; however, mine scheduling was further refined with revised equipment selection to smooth the material movement profile over the life of mine and reduce long-term stockpile volumes. Key results of the DFS optimisation are provided below. The results provided a 56% increase in pre-tax NPV10 for the project along with an IRR increase to 63% and a reduced pay back of 1.8 years (previously 40% and 4.0 years respectively). | |
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