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Cobalt Blue Holdings Ltd.
Summary
| Project: | Thackaringa | |
|---|---|---|
| Deposit: | Thackaringa | |
| Location: | Australia | |
| Commodities: | Cobalt-Sulphur-Iron | |
| Date: | 7/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 4-7-2018: Cobalt Blue Holdings Ltd. announces a Pre-Feasibility Study report for its Thackaringa deposit at the Thackaringa project. PFS results incl. post-tax NPV of A $544M (7.5%), IRR of 22%, Initial ore reserve at Thackaringa. The PFS clearly demonstr | |
| Resources: | (Reserve, Prob.): 46.3Mt @ 819ppm Co, 8.83% S | |
| CP/QP: | [Overall Report]: Peter Buckley (Left Field Geoscience Services) | |
| ABSTRACT: | The PFS clearly demonstrated the Ore Reserve case for Thackaringa was NPV positive and that the project was economic. A Production Target (Potential Upside Mining Case) was modelled using sensitivity analysis. The Production Target of 58.7M tonnes @ 802ppm cobalt included the Probable Ore Reserve and a partial component of the Inferred Resource. Production Target outcomes are set out in Table 2. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. Cobalt Blue is pleased to report a maiden Ore Reserve Statement and Preliminary Feasibility Study for the Thackaringa Cobalt Project. Mining One has issued a JORC 2012 compliant Ore Reserve Statement to Cobalt Blue, and this is detailed in the following sections in accordance with ASX Listing Rule 5.9.1. Cobalt Blue has completed the Preliminary Feasibility Study, and has subsequently served notice to Broken Hill Prospecting Limited (‘BPL’), that Cobalt Blue has fulfilled the requirements of Stage 2 of the Thackaringa Joint Venture. The outcomes of the PFS are detailed in the following sections. The PFS has detailed a technically feasible and economic project for production of cobalt sulphate heptahydrate and elemental sulphur from the Thackaringa deposits. The project assumed a 5.25Mtpa ore throughput rate. Using the mining ore reserve, a project life of 9.3 years (10 years of operations inclusive of ramp up period) was delineated.The Production Target mine life is extended to 12.8 years (13 years of operations inclusive of ramp up period). | |
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