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New Energy Minerals Ltd.
Summary
| Project: | Caula | |
|---|---|---|
| Deposit: | Caula | |
| Location: | Mozambique | |
| Commodities: | Graphite-Vanadium | |
| Date: | 10/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-10-2018: New Energy Minerals Ltd. announces a Scoping Study report for its Caula deposit at the Caula project. Scoping Study results incl. post-tax NPV of US $448.76M (10%), IRR of 58.3%, . New Energy Minerals Limited (ASX:NXE FRA:GGY) is pleased to re | |
| Resources: | (Resource, Meas.): 21.9Mt @ 13.4% TGC for 2.933Mt Graphite contained at Caula | |
| CP/QP: | [Overall Report]: Clive Brown, Richard Way, Evan Kirby (Bara International;Internal) | |
| ABSTRACT: | New Energy Minerals Limited (ASX:NXE FRA:GGY) is pleased to report the results of an independent Scoping Study completed by mining consultant group Bara International (“Bara”) on the Company’s 80% owned Caula Vanadium Graphite Project located in Mozambique. New Energy Minerals commissioned Bara International (“Bara”) to coordinate and complete a scoping study report on the Caula Vanadium-Graphite Project, in Northern Mozambique. See page 32 for a full list of consultants used for the study. The Scoping Study was undertaken to an overall ±35% level of accuracy and examined all facets of geology, mining, processing and supporting infrastructure and included a site visit by the consultants in June 2018. The Scoping Study was prepared on the project level and assumes 100% project ownership1 . All amounts are in United States Dollars (“USD” or “US$”) unless otherwise stated. Production targets are based 100% on JORC Measured Resources. Dr. Bernard Olivier Managing Director of New Energy Minerals Ltd commented: “The results of the Scoping Study by Bara International clearly show the potential financial benefits of the unique Caula Vanadium-Graphite project. With its low 1:1 strip ratio, large high-grade JORC Measured Resource and simple, fully integrated process flowsheet design using flotation and magnetic separation to extract graphite and vanadium concentrates, this project is truly remarkable. We are currently busy with metallurgical testwork with the aim of producing 98% V2O5 which we believe will improve the project’s potential even further. We are currently in off-take and associated project finance discussions and the Board believes that given the current level of financing interest for our phased development approached with a peak funding requirement for both phases of US$77.5m for a pre-tax NPV10 and IRR of US$673m and 78% respectively, that the project finance for Phase 1 and Phase 2 can be secured. We remain committed to delivering further studies and results in the coming months as we build towards the low-cost Phase 1 pilot plant targeted for production by H2-2019.” | |
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