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Cypress Development Corp.
Summary
| Project: | Clayton Valley | |
|---|---|---|
| Deposit: | Clayton Valley | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 10/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-10-2018: Cypress Development Corp. announces a PEA report for its Clayton Valley deposit at the Clayton Valley project. PEA results incl. post-tax NPV of US $1.45B (8%), IRR of 32.7%, 40yr LOM at the project. Vancouver, BC - Cypress Development Corp. (T | |
| Resources: | (Resource): 831Mt @ 867ppm Li (Ind.), 1120.3Mt @ 860ppm Li (Inf.) | |
| CP/QP: | [Resources]: Terre Lane, Hamid Samari (Global Resource Engineering Ltd.) | |
| ABSTRACT: | Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to announce positive results from a Preliminary Economic Assessment (PEA) of the Company’s Clayton Valley Lithium Project in Nevada, U.S.A. The PEA was prepared by Global Resource Engineering (GRE) of Denver, Colorado, an independent engineering services firm with extensive experience in mining and mineral processing. All dollar values are in US dollars. Highlights: • Net present value of $1.45 billion at 8% discount rate and 32.7% internal rate of return on after-tax cash flow. • Lithium carbonate price of $13,000 per tonne based on Benchmark Research market study. • Average annual production rate of 24,042 tonnes of lithium carbonate over 40-year life. • Capital cost estimate of $482 million, pre-production and operating cost estimate averaging $3,983 per tonne of lithium carbonate. • Updated Resources from May 1, 2018 estimate: o Indicated Resource of 831 million tonnes at 867 ppm Li, or 3.835 million tonnes lithium carbonate equivalent (LCE). o Inferred Resource of 1.12 billion tonnes at 860 ppm Li, or 5.126 million tonnes LCE. 2 Cypress CEO Dr. Bill Willoughby commented "This is another important milestone for the project and Cypress. The PEA outlines the steps necessary for a mine and mill at Clayton Valley, including a sulfuric acid plant which is the main driver in the costs. GRE uses a conventional approach in processing and developed a production schedule that utilizes only a small fraction of the total resources on the property. The end result is a project that has strong economics and the potential to generate significant cash flow.” | |
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