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Centrex Metals Ltd.
Summary
| Project: | Ardmore | |
|---|---|---|
| Deposit: | Ardmore | |
| Location: | Australia | |
| Commodities: | Phosphate | |
| Date: | 10/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 8-10-2018: Centrex Metals Ltd. announces a Feasibility Study report for its Ardmore deposit at the Ardmore project. DFS results incl. post-tax NPV of A $109M (10%), IRR of 30%, Initial ore reserve. Centrex Metals Limited (“Centrex”) is pleased to announce | |
| Resources: | (Reserve, P+P): 10.1Mt @ 30.2% P2O5 | |
| CP/QP: | [Resources]: Jeremy Clark (RPM Advisory Services Ltd.) | |
| ABSTRACT: | Centrex Metals Limited (“Centrex”) is pleased to announce it has completed a Definitive Feasibility Study (“DFS”) for its high-grade Ardmore Phosphate Rock Project in North West Queensland. The DFS has confirmed Ardmore to be a high-quality asset with a relatively low capital requirement, low technical risk and the potential to provide strong returns. The results of the DFS were based on a 800,000 wet tonnes per annum phosphate concentrate processing facility with a minimum 10 year mine life based on maiden Ore Reserves. The Project DFS displays robust economics highlighted by an unleveraged nominal pre-tax NPV10 of A$172 million and internal rate of return of 40% over the 10 year evaluation period, based on annual production of approximately 800,000 wet tonnes of premium-grade phosphate concentrate with ultra-low cadmium. Fabrication is already underway on a modular start-up processing plant to provide circa 30,000 wet tonnes of premium grade phosphate rock concentrate with ultra-low cadmium to potential off-take customers in the local region by mid-2019. The start-up plant is readily upgradable for full-scale operations and represents a major step in technically and commercially de-risking the project. The Ardmore Phosphate Rock Project (“Ardmore”) located approximately 130km by road south of Mount Isa in North West Queensland (Figure 1) is one of the few remaining undeveloped high-grade phosphate rock deposits in the world. The known Mineral Resources for the project are located on Mining Lease 5542 held by Centrex with a current term of 21 years. Centrex also holds granted Exploration Licences and an Exploration Licence Application surrounding the Mining Lease prospective for phosphate. | |
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