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Verde Agritech Plc
Summary
| Project: | Cerrado Verde | |
|---|---|---|
| Deposit: | Cerrado Verde | |
| Location: | Brazil | |
| Commodities: | Potash | |
| Date: | 11/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 27-11-2017: Verde Agritech Plc announces a Pre-Feasibility Study report for its Cerrado Verde deposit at the Cerrado Verde project. PFS study results incl. NPV (8%) $1.98B, IRR after-tax 290%. TORONTO, Nov. 27, 2017 -- Verde AgriTech Plc (TSX:NPK) (OTCQB: | |
| Resources: | (Reserve, P+P): 777Mt @ 9.78% K2O | |
| CP/QP: | [Overall Report]: Bradley Ackroyd, Beck Nader (Andes Mining Services Ltd.;BNA Mining Solutions) | |
| ABSTRACT: | TORONTO, Nov. 27, 2017 -- Verde AgriTech Plc (TSX:NPK) (OTCQB:AMHPF) ("Verde” or the “Company”) is pleased to announce the conclusion of a Pre-Feasibility Study (“PFS”) for the expansions to the ongoing Super Greensand® production. The PFS was prepared by BNA Mining Solutions (“BNA”) and Andes Mining Services Ltd. (“ANDES”) with inputs from technical studies completed by other consultants on Verde's Cerrado Verde Project ("Cerrado Verde" or the "Project") located in Minas Gerais State, Brazil. The PFS evaluated the technical and financial aspects of producing 25 million tonnes per year (“Mtpy”) of Super Greensand® , divided in three phases: Phase 1 (0.6Mtpy); Phase 2 (5Mtpy) and Phase 3 (25Mtpy). The proposed scalable development is predicated on expansions being financed largely from projected internal cash flow. World Food Prize winner and Verde’s director Mr Alysson Paolinelli said: “Tropical agriculture requires slow release fertilizers like Super Greensand® rather than highly water soluble chemical fertilizers developed for temperate climates with short growing seasons. In Brazil, for example, farmers can have up to 3 harvests per year and Super Greensand® will bring everlasting benefits to the environment as well as food and nutrition security Operating costs per ton of Super Greensand® produced over the life of mine are displayed on Table 2. Costs associated with mining comprise 55% of operating costs, processing 19%, and G&A 3% on Phase 1. The per ton break-down of operating cost by Phase is as follows: | |
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