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Rox Resources Ltd.
Summary
| Project: | Fisher East | |
|---|---|---|
| Deposit: | Fisher East | |
| Location: | Australia | |
| Commodities: | Nickel | |
| Date: | 10/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-10-2018: Rox Resources Ltd. announces a Scoping Study report for its Fisher East deposit at the Fisher East project. Scoping study results incl. pre-tax NPV of A $146M (10%), IRR of 44%, 6yr LOM at the project. Rox Resources Limited (ASX: RXL) (“Rox” o | |
| Resources: | (Resource): 4.2Mt @ 1.9% Ni for 78000t Ni contained at Fisher East | |
| CP/QP: | [Overall Report]:n/a (n/a) | |
| ABSTRACT: | Rox Resources Limited (ASX: RXL) (“Rox” or “the Company”) is pleased to report the outcomes from an updated Scoping Study undertaken on the Fisher East Nickel project (the “Project”), located 150km northeast of Leinster in Western Australia. The original Scoping Study was completed in 2015 and the recent update, undertaken on the back of the positive outlook for nickel, demonstrates a project with strong economic and technical credentials at a consensus projected forward nickel price. In addition, there is significant upside to project economics from an increased resource base. Capital costs are relatively low, with competitive cash operating costs. The highlevel study considered two primary development scenarios, building a stand-alone concentrator or toll milling at a nearby operation. Rox Managing Director, Mr Ian Mulholland said “The improving nickel price outlook prompted us to reexamine the development prospects for Fisher East and the results demonstrate that we have a potentially robust nickel project both financially and technically. “The updated Scoping Study shows the project can deliver significant value to Rox shareholders under both a standalone concentrator option or taking advantage of nearby toll treating opportunities, such as Leinster. Developing a concentrator generates strong cashflow and competitive costs, while toll treating can be undertaken with significantly lower pre-production capital costs and only slightly higher operating costs. “Additions to the mineable resource inventory will only improve the project economics, as will the improving prospects for the nickel price which are related to increasing demand from electric vehicle batteries and declining LME nickel stockpiles. We have recently delineated depth extensions at the Camelwood and Musket deposits, and the Sabre resource is yet to be drilled out. These extensions are likely to lead to increases to mine life and enhance project economics. | |
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