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Pre-Feasibility Study at Yangibana REE Project
Pre-Feasibility Study at Yangibana REE Project.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6614U Rare Earth Minerals PLC 08 April 2016 \n\nRare Earth Minerals Plc\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\nPre-Feasibility Study at the Yangibana Rare Earth Element Project.\nRare Earth Minerals Plc (AIM: REM; OTC REMMY) is pleased to announce that Hastings Technology Metals Limited ('Hastings'), has today published a summary of the Pre-Feasibility Study (\"PFS\") for the the Yangibana Rare Earth Element Project (the \"Project\") in north-west Australia. REM is a 30% joint venture partner Yanginbana North concession which forms part of the Project and is covered by the PFS, further details of REM's ownership is fully described below.\nThe full Hastings news release dated 8 April 2016 is available at: http://www.hastingstechmetals.com/images/asx_latest/PFS_Announcement_-_FINAL_CL_FINAL3.pdf. The full Hastings release also contains information on Bald Hill South, Fraser's and Yangibana West in which REM has no interest and it should be noted that the overall PFS including the Net Present Value estimated does not separately identify the attributable part of the Yangibana North Concession in which REM has the 30% interest.\n \nA technical report on the PFS will be forthcoming within the next four weeks.\nHighlights of the Full PFS:\n· Toll Treatment Model: Hydrometallurgical concentrate produced on site will be shipped overseas for further separation and refining into individual rare earth oxides. Allowing the Project to fast track to prodcution in 2019.\n· Robust project economics: \no Payback of capital cost - 2.5 years\no Net present value estimated between AS$700-750 million (based on 8% discount rate)\no Internal rate of return estimated at 40%\n· Long-term mine life: \no 7 year mine life with a total of 60,500 tonnes of separated oxides produced\no Average strip ratio of 9.4:1\no Average diluted TREO grade over mine life 1.15%\n· Off take contracts - prospects for the supply of rare earth hydromet concentrate to overseas customers are promising given on‐going negotiations.\n· Non Disclosure Agreements - signed with potential end customers of separat...