IN BRIEF: Blencowe Resources celebrates "outstanding" DFS findings
Blencowe Resources PLC - London-based mining company - Says definitive feasibility study confirms "outstanding economics" for its Orom-Cross graphite project. Says DFS assesses an initial 15-year life of mine and that it expects "significant" extensions "as further drilling converts additional resources to reserves", since only around 2% of the deposit is drilled so far. DFS highlights include a net present value of USD1.09 billion, average annual earnings before interest, tax, depreciation and amortisation of USD230 million per year over the LOM, and free cash flow of USD2.03 billion over the initial 15 years. Also, DFS gives Orom-Cross a 96% projected internal rate of return and all-in sustaining costs of USD485 per tonne over LOM. Company says the project will start with phase 1 production, and that its "primary corporate focus" is the "immediate next step" of securing the funding package to initiate ordering, construction and commissioning. It will implement phase 2 within two years of P1 commissioning. Read More