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King Island Scheelite Ltd.
Summary
| Project: | Dolphin | |
|---|---|---|
| Deposit: | Dolphin | |
| Location: | Australia | |
| Commodities: | Tungsten | |
| Date: | 6/3/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-6-2019: King Island Scheelite Ltd. announces a Feasibility Study report for its Dolphin deposit at the Dolphin project. Feasibility Study results incl. pre-tax NPV of AU $146.4M (8%), IRR of 46.7%, updated ore reserve. Attached to this announcement is t | |
| Resources: | (Reserve, Prob.): 3.00Mt @ 0.73% WO3 | |
| CP/QP: | [Overall Report]: Tim Callaghan (Independent) | |
| ABSTRACT: | Attached to this announcement is the Feasibility Study and Revised Mineral Reserve Estimate, together with JORC (2012) Table 1, Sections 1 to 4 compiled by Mr Tim Callaghan, a Member of the Australian Institute of Mining and Metallurgy. The Study outlines that the Dolphin Open‐cut Project is planned to mine and process approximately 400ktpa of ore for eight years to produce approximately 3,500t of WO3 concentrate per year. This concentrate will be sold into a market with strongly growing demand and constrained supply. The Dolphin processing plant has been substantially modified since the 2015 Reserve Estimation. Processing will now be conducted through, primarily, a gravity circuit followed by a small flotation circuit to which some of the gravity tails will report. The Company has carried out further site infrastructure engineering works, resulting in significant capital and operating cost savings from the previous estimation. Economic Analysis The study indicates the following potential economic benefits flowing to the Company on the successful redevelopment of its 100% owned Dolphin Tungsten Project in King Island, Tasmania. The sensitivity of these benefitsto a range of criteria, including grade, recovery, operating costs,strip ratio, foreign exchange rate and more, is analysed in the Feasibility Study. | |
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