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NRG Metals Key Milestone with Filing of Preliminary Economic Assessment Report ( PEA ) for Hombre Muerto North Lithium Project
VANCOUVER, British Columbia, Aug. 12, 2019 (GLOBE NEWSWIRE) -- NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMD) (Frankfurt: OGPN) is pleased
About this update from Lithium South Development Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 12, 2019 (GLOBE NEWSWIRE) -- NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMD) (Frankfurt: OGPN) is pleased to announce that it has filed on SEDAR, its preliminary economic assessment following the summary results previously announced. The PEA report was completed by Knight Piesold Consulting and JDS Energy and Mining Inc., both industry leading independent engineering consulting firms. KEY POINTS After-tax Net Present Value (NPV) 8% discount rate $217 million After-tax Internal Rate of Return (IRR) 28.0% CAPEX Capital Expenditures $93.4 million OPEX Cash Operating Costs (per metric tonnes of lithium carbonate) $3,128 Average Annual Production (lithium carbonate) 5,000 tonnes Mine Life 30 years Payback Period (from commencement of production) 2 years 8 months The Preliminary Economic Assessment is preliminary in nature, there is no certainty that the PEA will be realized. The economic analysis is based upon mineral resources that are measured and indicated, but are not mineral reserves, and have not demonstrated economic viability. There is no certainty that the Hombre Muerto North Lithium Project envisioned by the PEA will be realized. The PEA is preliminary in nature. NRG President Adrian F.C. Hobkirk is quoted “We are very pleased to have completed and filed the report, which firmly established the Hombre Muerto North Lithium Project as having significant potential. The smaller environmental footprint, shortened build out time and excellent grade of lithium enhance the attractiveness of the project.” The PEA Report provides support for NRG Metals Inc. to proceed with the development plans for a 5,000 tonnes-per-year lithium carbonate plant, located at its Hombre Muerto North Lithium Project, Salta Province, Argentina. It is the first is step in moving the HMN Project towards potential development. The process developed for the site is based on conventional, proven technology for brine operations. The project is located with easy access to energy, and on a salar of development activity. Galaxy Resources Ltd. recently sold the land surrounding the HMN Lithium Project to Korean conglomerate POSCO for $ US 280 million and are continuing to develop their remaining portion of the salar, referred to as the Sal da Vida Project. The proj...