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Clean Teq Holdings Ltd.
Summary
| Project: | Syerston | |
|---|---|---|
| Deposit: | Syerston | |
| Location: | Australia | |
| Commodities: | Scandium | |
| Date: | 8/30/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 30-8-2016: Clean Teq Holdings Ltd. announces a Feasibility Study report for its Syerston deposit at the Syerston project. Feasibility study results incl. post-tax NPV of A$273M, IRR of 33%, initial 20 year LOM. Clean TeQ Holdings Limited (ASX: CLQ) announ | |
| Resources: | (Reserve, P+P): 1.201Mt @ 583ppm Sc at Syerston | |
| CP/QP: | [Resources]: Sharron Sylvester (OreWin Pty Ltd.) | |
| ABSTRACT: | Clean TeQ Holdings Limited (ASX: CLQ) announces the results of the Syerston Scandium Project (Project) Feasibility Study (Study). The Study was based on a processing plant with designed capacity of 64,000tpa of ore feed from Syerston’s near-surface resource over an initial 20-year mine life. The processing plant consists of a high pressure acid leach (HPAL) circuit followed by Clean TeQ’s proprietary Resin-In-Pulp (RIP) technology for scandium recovery, followed by purification. The plant and infrastructure construction timeframe is estimated to be 18 months. An 18-month commissioning and ramp up period has been allowed with design throughput and production capacity forecast to be achieved in year 2 of the initial 20-year mine life. The processing plant produces 99.9% scandium oxide (Sc2O3) at an average rate of 49.2 tonnes per annum over years 2-20. The current global supply of scandium oxide is approximately 10-15tpa, with prices ranging from US$2,000-3,000/kg Sc2O3 2 . In order to facilitate wider-scale adoption in key emerging markets (such as high performance aluminium alloys), and consistent with the Scoping Study released in May 2015, Clean TeQ has adopted a long term scandium oxide price of US$1,500/kg (A$2,000/kg) in the Study, which is at a significant discount to current market prices. The Study was based on a Measured, Indicated and Inferred resource, completed by OreWin Pty Ltd (OreWin), which was compiled utilising data from over 1,300 historical drill holes (for further detail see ASX announcement dated 17 March 2016). | |
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