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Kibaran Resources Ltd.
Summary
| Project: | Epanko | |
|---|---|---|
| Deposit: | Epanko | |
| Location: | Tanzania | |
| Commodities: | Graphite | |
| Date: | 6/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 21-6-2017: Kibaran Resources Ltd. announces a Feasibility Study report for its Epanko deposit at the Epanko project. BFS results incl. Pre-tax NPV (10%) of US$211m, IRR of 38.9%. Kibaran Resources Limited (ASX: KNL), is pleased to announce the completion | |
| Resources: | (Reserve, P+P): 11.7Mt @ 8.32% TGC for 971Kt graphite contained at project | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | Kibaran Resources Limited (ASX: KNL), is pleased to announce the completion of its updated Bankable Feasibility Study (‘BFS’) and associated Environmental and Social Planning for its 100% owned Epanko Graphite Project (‘Epanko’) in Tanzania. The BFS, which incorporates conservative design parameters, has been subjected to rigorous due diligence by bank appointed Independent Engineers SRK Consulting (UK) Limited (‘SRK Consulting’) who confirms as follows: all technical areas have been significantly advanced to conform with the requirements of international project financing standards; and the Environmental and Social Management Planning and supporting impact assessments conform to relevant Tanzanian legislation, International Finance Corporation (‘IFC’) Performance Standards and World Bank Group Environmental Health and Safety Guidelines. Kibaran Managing Director Andrew Spinks commented: “This detailed updated feasibility study shows that Epanko is a world-class graphite project in every respect. The outstanding quality of the deposit underpins the project’s extremely robust economics, demonstrated by the strong alliance the project has managed to secure with a range of German industrial groups. Passing this milestone was the key catalyst to advance debt financing and allows Kibaran and its sales partners, industry groups and private equity groups that have previously expressed interest, to commence project financing discussions in detail. The support of such partners has facilitated the increase in production to 60ktpa and underpins the commercial development of the downstream processing facility. This places Kibaran in the ideal position for the enormous growth forecast for graphite demand, on the back of the increased electrical vehicle and renewable energy battery boom. The downstream processing plant is expected to provide the Company with another source of substantial cash flow generation by supplying our products to lithium battery manufacturers.” | |
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