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ARIANNE PHOSPHATE RECEIVES ENGINEERING STUDY UPDATING ITS LAC À PAUL CAPEX
ARIANNE PHOSPHATE RECEIVES ENGINEERING STUDY UPDATING ITS LAC À PAUL CAPEX Canada ...
About this update from Arianne Phosphate Inc.
[{"type":"text","content":"\n \n \n \n ARIANNE PHOSPHATE RECEIVES ENGINEERING STUDY UPDATING ITS LAC À PAUL CAPEX\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n DAN: TSX-V (\n \n Canada\n \n )\n \n \n \n JE9N: FSE (\n \n Germany\n \n )\n \n \n \n DRRSF: OTCQX (\n \n USA\n \n )\n \n \n \n \n SAGUENAY, QC\n \n ,\n \n \n March 30, 2023\n \n \n /CNW/ -\n \n Arianne Phosphate (the \"Company\" or \"Arianne\")\n \n (TSXV: DAN) (OTCQX: DRRSF) (FSE: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in\n \n Quebec's\n \n Saguenay-Lac-Saint-Jean region, is pleased to announce that it has received an updated engineering study regarding the projected capital expenditure (\"CapEx\") for its Lac à Paul phosphate project. The study was undertaken in late 2022 and early 2023 and estimates CapEx for the Lac à Paul project to be approximately US\n \n $1.55 billion\n \n , based on a\n \n $1.35\n \n US/CAD exchange rate.  The CapEx estimate also includes required infrastructure upgrades, including a hydroelectric transmission line from dam to site and, a ship-loading facility on the north shore of the Saguenay River.\n \n \n Given recent uncertainties and cost overruns facing many mining construction projects, Arianne engaged LCO Construction & Management Consultants Inc. (\"LCO\") of\n \n Montreal, Quebec\n \n in late 2022 to update the projected cost to build Lac à Paul. The study focused solely on the CapEx as the construction, mining and transportation plans for Lac à Paul remain the same, as does Arianne's statement of mineral reserves. LCO was chosen to do this work due to their knowledge of the phosphate industry and their familiarity with the project, having conducted work of this type in the past for Arianne.\n \n \n \"This report should go a long way towards dispelling the view that our CapEx has appreciated to the point of significantly diminishing our project,\" said\n \n Brian Ostroff\n \n , President of Arianne. \"While cost overruns due to inflationary...