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Melior Resources Inc.
Summary
| Project: | Goondicum | |
|---|---|---|
| Deposit: | Goondicum | |
| Location: | Australia | |
| Commodities: | Ilmenite-Apatite | |
| Date: | 4/20/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-4-2018: Melior Resources Inc. announces a PEA report for its Goondicum deposit at the Goondicum project. PEA results incl. pre-tax NPV of US$56.2M (8%), IRR of 100%, 9yr LOM at project. Melior Resources Inc. (TSXV:MLR) (“Melior” or the “Company”) annou | |
| Resources: | ||
| CP/QP: | [Resources]: Simon Tear (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Melior Resources Inc. (TSXV:MLR) (“Melior” or the “Company”) announced today that it has received an updated resource report and a preliminary economic assessment (the “PEA”) on its Goondicum Project (the “Property”) covering ML80044 and MDL2007. The PEA was independently prepared by TZ Minerals International Pty Ltd (“TZMI”) in accordance with the guidelines of the Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mark McCauley, Melior CEO, commented that “along with the continuing strength in the titanium feedstock market, this study supports management’s belief that Goondicum is a valuable project and has the potential to generate strong cash flows when production resumes in the 4th Quarter 2018.” The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty the PEA will be realized. Based on the work carried out in this PEA and the preliminary economic evaluations contained therein, along with all the additional historic information and operating experience available, management believes a positive business case has been confirmed for the restart of operations of the Goondicum project. While the restart of production at the Goondicum project in the absence of a feasibility study demonstrating economic and technical viability presents increased uncertainty and economic and technical risk, the Company believes that these risks are mitigated by, among other things, the work conducted in the PEA, as well as the mine’s past history of production in 2007-2008 and 2012-2015. The IRR of the Goondicum project is high which is consistent with the brownfield nature of the project and low restart capital costs. This is also reflected in a short payback period. | |
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