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Prospect Resources Ltd.
Summary
| Project: | Arcadia | |
|---|---|---|
| Deposit: | Arcadia | |
| Location: | Zimbabwe | |
| Commodities: | Lithium-Tantalum | |
| Date: | 3/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 19-3-2018: Prospect Resources Ltd. announces a Pre-Feasibility Study report for its Arcadia deposit at the Arcadia project. Updated Reserve estimate and PFS results incl. pre-tax NPV (10%) of $340M, IRR of 77%. Prospect Resources Ltd (ASX: PSC) (the “Comp | |
| Resources: | (Reserve, P+P): 26.9Mt @ 1.31% Li2O, 128ppm Ta2O5 for 351Kt Li2O, 7.6Mlbs Ta2O5 contained | |
| CP/QP: | [Resources]: Gayle Hanssen (Digital Mining Services Ltd.) | |
| ABSTRACT: | Prospect Resources Ltd (ASX: PSC) (the “Company”) is pleased to announce that it has revised its Pre-Feasibility Study (“PFS”) over the Arcadia Lithium Project in Zimbabwe. Since the PFS was announced in July 2017, the Company has. This updated data has been incorporated into the project’s financial model resulting in a pretax NPV10 of USD 340 Million and an IRR of 77%. The PFS financial model estimates a net revenue of USD 2.6 Billion over a 22-year mine life. Pricing has been increased compared to the PFS reflecting the pricing formulae in the Offtake Agreement, which, consistent with other industry contracts is linked to the lithium carbonate price. The revenue was further improved due to the higher ratio of Spodumene to Petalite mineralisation identified by the XRD work on the orebody resulting in more lithium reporting to the higher value Spodumene concentrate. Unit operating costs net of tantalum credits average USD 287/t of lithium concentrate. The reduced unit cost compared to the PFS mainly reflects reduced transport costs with the concentrates being sold on a FOB Port of Beira rather than a CFR China port basis. The estimated Capital Expenditure (including initial working capital) remains the same as the PFS at USD52.5 Million following ongoing discussions with equipment and infrastructure suppliers. | |
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