Business
PFS results support GAMP development in GigaVaasa
PFS results support GAMP development in GigaVaasa.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n\n20 July 2023\nBeowulf Mining Plc\n \n(\"Beowulf\" or the \"Company\")\n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \nPreliminary economic results support the development of the Graphite Anode Materials Plant in the GigaVaasa area\n \nBeowulf (AIM: BEM; Spotlight: BEO), is pleased to announce that its wholly owned Finnish subsidiary Grafintec Oy (\"Grafintec\") has completed the first stage of the process design, including a preliminary review of the economics, as part of the Pre Feasibility Study (\"PFS\") for a Graphite Anode Materials Plant (\"GAMP\") located in the GigaVaasa area, in the municipality of Korsholm on the west coast of Finland. The study, prepared by the engineering consultancy RB Plant Construction Ltd (\"RB Plant\"), is based on an industrial plant with a total production capacity of 20,000 tonnes per annum (\"tpa\") of Coated Spherical Graphite (\"CSPG\").\n \nHighlights\n \n· The initial results of the study confirm the technical and financial feasibility of the GAMP, including robust preliminary economics as follows:\no Post-tax NPV8 of US$242 million (Pre-tax NPV8 of US$313 million)\no Post-tax IRR of 39% (Pre-tax IRR of 45%)\no Payback period of 2.4 years from commencement of operation\no Plant capacity of 20,000tpa\no Initial operating period of 10 years with the potential to be longer\no Realised price for CSPG of US$9,000 per tonne\no Initial capital expenditure of US$117 million\no Annual EBITDA of US$79m\n \n \nThe study confirms that the GAMP is technically and financially feasible and supports the progress of the project to the next stage of development, including coating testwork at laboratory and pilot plant scale in combination with optimisation of the process design. Further studies also include, but are not limited to, equipment selection, continued discussions and cooperation with technology partners, raw-material sourcing, engagement and pre-qualification ...