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Strandline Resources Ltd.
Summary
| Project: | Coburn | |
|---|---|---|
| Deposit: | Coburn | |
| Location: | Australia | |
| Commodities: | Ilmenite-Leucoxene-Rutile-Zircon | |
| Date: | 6/4/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 4-6-2020: Strandline Resources Ltd. announces a Feasibility Study report for its Coburn deposit at the Coburn project. DFS results incl. pre-tax NPV (8%) of A$705M & IRR of 37%. Capital and operating cost estimates have also been revised with the latest s | |
| Resources: | ||
| CP/QP: | [Resource]: Greg Jones, Brendan Cummins (IHC Robbins,Internal) | |
| ABSTRACT: | Capital and operating cost estimates have also been revised with the latest supplier and contractor pricing from tendering activities and further refinement of the project execution strategy. Other material assumptions underpinning the original DFS remain unchanged. The updates have resulted in significant increases in Coburn’s forecast financial returns, including an outstanding Internal Rate of Return (IRR) of 37% (up from 32%) and first quartile revenue-to-operating cost (C1) ratio of 2.4. The projected revenue for the initial 22.5 years of Reserves has increased to A$4.4b (up from A$3.9b), with an average annual EBITDA of A$104m. The increase is primarily driven by favourable offtake terms compared to the assumptions made in the original DFS, increased recoveries of the higher value products of rutile and premium zircon as confirmed through additional bulk test work, and updated foreign exchange rate and commodity price outlook. Strandline Managing Director Luke Graham said the results provide further evidence that Coburn is well on track to become Australia’s next major mineral sands project. “Coburn’s projected cashflows, low costs and robust fundamentals underpin very strong returns over a long mine life” Mr Graham said. | |
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