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Erin Ventures Announces Positive Preliminary Economic Assessment for Piskanja Boron Project US$524.9 Million NPV10 (post-tax), 78.7% IRR (post-tax), 12-Month Capex Payback
Boron is critical for decarbonization as a high impact super material Boron demand is e...
About this update from Boron One Holdings Inc
[{"type":"text","content":"Erin Ventures Announces Positive Preliminary Economic Assessment for Piskanja Boron Project US$524.9 Million NPV10 (post-tax), 78.7% IRR (post-tax), 12-Month Capex PaybackBoron is critical for decarbonization as a high impact super materialBoron demand is expected to outpace supply with each step toward Net ZeroVICTORIA, BC / ACCESSWIRE / June 28, 2022 / Erin Ventures Inc. (\"Erin\" or the \"Company\") (TSXV:EV) and their partner Temas Resources Corp. [CSE: TMAS] are pleased to report positive results of an Independent Technical Report and Preliminary Economic Assessment (\"PEA\") for the Piskanja boron project located in Serbia.PEA HIGHLIGHTSPost-tax Net Present Value (NPV10%)$524.9 millionPost-tax IRR78.7%Initial capital cost (Capex) (including 30% contingency)$79.9 millionCapex payback from commercial production12 monthsLife of Mine (\"LOM\")16 yearsGross Project Revenue$2.02 billionNet Project Cash Flow (post-tax)$1.21 billionAverage Annual Gross Revenue$126.0 millionLOM average annual EBITDA$91.3 millionNet operating margin72.4%Post-tax Operating Cost per t of product$167.45Weighted average revenue per t of product$514.02LOM Sustaining Capital (including 30% contingency)$50.8 millionLOM average gross production305,304 tonnesProfitability Index (NPV/Capex)6.57X (post-tax)LOM Capital Intensity Index (Initial Capex/ROM tonnage)$16.36LOM average C1 (cash operating) cost (run-of-mine production)$91.95/tAverage annual production (sales grade) colemanite258,272 tAverage annual production of boric acid25,000 tonnesLOM average C1 cost (colemanite) post-tax$154.50/tLOM average C1 cost (boric acid) post-tax$340.70/tLOM mining production4.88 million tonnesLOM average grade B2O334.57 %Good potential for resource expansionNote:All values in this news release are reported in U.S. dollars unless otherwise notedAssumed price/t (colemanite 40% B2O3) for LOM: US$500Assumed price/t (boric acid, technical grade) for LOM: US$700Units expressed in metric tonnesMINERAL RESOURCESThe basis for the PEA is the Mineral Resource Estimate prepared by Prof. Miodrag Banješević PhD. P.Geo, EurGeol.The updated Mineral Resource Statement generated for the Piskanja Project is as follows:Resource CategoryGeological Resource(tonne)B2O3 %Contained B2O3 (tonne)Measured1,391,57435.59495,251Indicated5,478,98634.051,865,677Measured + Indicated6,870,...