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Strike Resources Ltd.
Summary
| Project: | Paulsens East | |
|---|---|---|
| Deposit: | Paulsens East | |
| Location: | Australia | |
| Commodities: | Iron-Silica-Aluminium-Phosphorus-Sulphur | |
| Date: | 11/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-11-2019: Strike Resources Ltd. announces a Scoping Study report for its Paulsens East deposit at the Paulsens East project. Scoping study results incl. NPV (8%) of A$155M, IRR of 449%. Strike Resources Limited (ASX:SRK) (Strike) is pleased to report th | |
| Resources: | (Resource, Ind.): 9.6Mt @ 61.1% Fe, 6.0% SiO2, 3.6% Al2O3 | |
| CP/QP: | [Resources]: Philip Jones (Independent) | |
| ABSTRACT: | Strike Resources Limited (ASX:SRK) (Strike) is pleased to report the excellent results from the Scoping Study (Study) undertaken for its Paulsens East Iron Ore Project (the Project) located in the Pilbara, Western Australia. An economic model prepared by the Company forecasts a pre-tax net present value (NPV) range of between $81 Million to $238 Million (Base Case $155 Million) and an estimated operating net cashflow for the Company of between $99 Million to $289 Million (Base Case $189 Million) over an initial four-year mine life. Estimated pre-production capital costs are approximately $12 Million (including a contingency of $2 Million), with payback expected within four months of production commencement and an internal rate of return (IRR) of between 263% to 649% (Base Case 449%). Average C1 cash costs free onboard (FOB) across the Life of Mine (LOM) are expected to be approximately US$45 per tonne (A$66 per tonne), providing a good margin to iron ore price fluctuations. The forecast Project financial metrics (NPV, IRR and Operating Net Cashflows) are calculated and shown net of applicable royalties but before deductions for tax. The Company will be subject to Australian corporate tax at the rate of 30% on its taxable income. Any tax payable may potentially be reduced by utilising the Company’s carried forward tax losses, which currently total ~$25 Million. | |
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