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FYI Resources Ltd.
Summary
| Project: | Cadoux | |
|---|---|---|
| Deposit: | Cadoux | |
| Location: | Australia | |
| Commodities: | Kaolinite | |
| Date: | 9/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-9-2018: FYI Resources Ltd. announces a Pre-Feasibility Study report for its Cadoux deposit at the Cadoux project. PFS results incl. post-tax NPV of US $506M (10%), IRR of 46%, updated mineral resource estimate. High purity alumina developer FYI Resourc | |
| Resources: | (Resource, I+I): 9.6Mt @ 23.0% Al2O3, 0.8% Fe2O3, 1.1% K2O | |
| CP/QP: | [Resources]: Andrew Scogings (CSA Global Pty Ltd.) | |
| ABSTRACT: | High purity alumina developer FYI Resources Limited (ASX: FYI) (“FYI” or “the Company”) is pleased to announce the successful completion of its Preliminary Feasibility Study (“PFS”) for its 100%-owned Cadoux Kaolin Project (“the Project”), in Western Australia. The PFS has confirmed the Company’s intention to become a predominant vertically-integrated, long life producer of high quality, sought after high purity alumina (“HPA”). The PFS indicates that the Project could produce up to 8,000 tonnes per annum of HPA with both low capital and operating costs, delivering an NPV(10%) of US$506 million for a 25 year project life from >50-year kaolin supply at an attractive IRR of 46%. The PFS economic forecasts are based on a revised Cadoux Mineral Resource Estimate (MRE) that was specifically estimated for the delivery of premium quality feedstock to the integrated HPA refining process. The mining and financial modelling is based on using 94% Indicated and 6% Inferred material. The revised MRE is detailed in section 7 of the detailed PFS report. FYI Resources Managing Director, Mr Roland Hill, commented: “The PFS demonstrates FYI Resources is in the attractive position with the potential of becoming a long-life, low cost and high margin HPA producer. The positive economics are a result of realistic basket pricing and a production profile that is expected to meet the forecasted industry demand growth over the coming years as a result of the EV revolution. Importantly, we believe we should sit within the lowest operating cost quartile generating significant margins, demonstrated in the average annual EBITDA at steady state of US$128m. | |
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