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Diatreme Resources Ltd.
Summary
| Project: | Cyclone | |
|---|---|---|
| Deposit: | Cyclone | |
| Location: | Australia | |
| Commodities: | Zircon-Rutile-Leucoxene | |
| Date: | 6/15/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 15-6-2016: Diatreme Resources Ltd. announces a Resource Estimation report for its Cyclone deposit at the Cyclone project. Project Enhancement and Update Study including an updated ore reserve. In a further boost for its flagship Cyclone Zircon Project, Di | |
| Resources: | (Reserve, Prob.): 138Mt @ 2.6% HM for 3.5Mt of HM contained at Cyclone | |
| CP/QP: | [Resources]: Ian Reudavey (Internal) | |
| ABSTRACT: | In a further boost for its flagship Cyclone Zircon Project, Diatreme Resources Limited (ASX:DRX) announced today the results of a Project Enhancement and Update Study completed by independent consultants which reaffirms the project’s financial viability. Based on the study undertaken by independent consultants Sedgman Limited and internally by DRX, the Eucla Basin’s largest undeveloped zircon project now has a projected net present value of $121 million, an internal rate of return of 23% and payback in 2.8 years based on an updated estimate of processing plant capital and operating costs, shipping and diesel costs, with revenue streams adjusted for current product pricing. Current industry and market conditions also present further opportunities for cost savings on key capital and operating expenditures, compared to the Prefeasibility Study estimates (refer ASX announcement 20 March 2012). | |
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