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Peak Resources Ltd.
Summary
| Project: | Ngualla | |
|---|---|---|
| Deposit: | Ngualla | |
| Location: | Tanzania | |
| Commodities: | Rare Earth | |
| Date: | 8/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Mine Development | |
| Report details: | 28-8-2017: Peak Resources Ltd. announces a Optimisation Study report for its Ngualla deposit at the Ngualla project. Optimisation Study results incl. Post tax NPV (10%) of $579M, IRR of 24%, 30 year LOM. Peak Resources Limited (ASX: PEK) (“Peak” or the “C | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Lucas Stanfield (Internal) | |
| ABSTRACT: | Peak Resources Limited (ASX: PEK) (“Peak” or the “Company”) is pleased to provide a project update as a result of process optimisation work completed since the Ngualla Rare Earth Project Bankable Feasibility Study (“BFS”) of April 2017. Managing Director, Darren Townsend said: “This is an outstanding outcome by the Peak team that drives Ngualla’s already low unit costs even lower and delivers a large increase in operating margin, reinforcing Ngualla as the leading development project for NdPr. The more than 100% increase in NdPr prices this year, combined with these significant operating improvements support our main focus now, which is to progress a mining licence application in order to fast track Ngualla towards production in time for the increased demand for NdPr from electric vehicles.” *See ASX Announcement “BFS positions Ngualla one of world’s lowest cost RE Projects” of 12 April 2017 for the mining, processing, economic and price assumptions, which remain unchanged except for as summarised in this announcement (Project Update), and for the application of a new 1% clearing fee for product export from Tanzania as per the Finance Act, 2017. BFS price assumptions include US $85/kg for NdPr, which is estimated to contribute 90% of Ngualla’s future product value. The increased production rate is based on the Ngualla Ore Reserve (ASX Announcement “Ngualla Rare Earth Project – Updated Ore Reserve” of 12 April 2017), which together with the BFS summarises the Material Assumptions underpinning this Project Update, which continue to apply and have not materially changed except where indicated in this announcement. A revised mine plan was not generated for this Project Update. The increased production rate is based on a compressed BFS mine schedule, which would reduce the operational life to 26 years, from 31 years at BFS. | |
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