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ROK Resources Announces Preliminary Economic Assessment Results for the Viewfield Lithium Brine Project
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES REGINA, S...
About this update from Rok Resources, Inc. Class B
[{"type":"text","content":"ROK Resources Announces Preliminary Economic Assessment Results for the Viewfield Lithium Brine ProjectNOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATESREGINA, SK / ACCESSWIRE / January 9, 2024 / ROK Resources Inc. (\"ROK\" or the \"Company\") (TSXV:ROK)(TSXV:ROK.WT)(OTCQB:ROKRF), as a twenty-five (25%) percent shareholder and manager of operations of Hub City Lithium Corp. (\"Hub City Lithium\" or \"HCL\"), is pleased to announce the highlights of Hub City Lithium's Preliminary Economic Assessment (the \"PEA\") on the Viewfield Lithium Brine Project, Saskatchewan. The PEA outlines the estimated production of battery-quality lithium carbonate equivalent (\"lithium carbonate\" or \"LCE\") over a 23-year period, which represents an estimated pre-tax internal rate of return (\"IRR\") of 55% and a pre-tax net present value (\"NPV\") of $1.49 billion USD, at an 8% discount rate.Preliminary Economic Assessment HighlightsPre-tax $1.49 billion USD NPV, at an 8% discount rate;Pre-tax IRR of 55% which represents a payout duration of 2.1 years;Total capital expenditures (\"CAPEX\") of $571 million USD inclusive of both direct and indirect capital costs, including $52 million USD in contingency;All-in operating costs (\"OPEX\") of $3,319 USD per tonne LCE, $40 million USD annually, including all direct and indirect costs;23-year project-life producing a total of 282,090 tonnes of battery-grade lithium carbonate, an average of 12,175 tonnes LCE per year;Weighted average lithium concentrations of 128 mg/L from 7 target zones over the project life (range of 84 mg/L to 259 mg/L); andPEA encompasses approximately 11,000 net hectares, or 14% of Hub City Lithium's lands in Southern Saskatchewan.Preliminary Economic Assessment Results ValuesProduction (LCE)12,175 tonnes/yearProject Life23.2 yearsTotal Capital Cost$571 million USDAverage Annual Operating Costs$40 million USDAverage Selling Price (LCE)$20,000 USD/tonnePre-Tax Net Present Value (8% discount)$1.493 billion USDAfter-Tax Net Present Value (8% discount)$1.066 billion USDPre-Tax Net Present Value (10% discount)$1.213 billion USDAfter-Tax Net Present Value (10% discount)$0.859 billion USDCash Operating Costs$3,319 USD/tonnePre-Tax Internal Rate of Return55%After-Tax Internal Rate of Return45%Payback Period (Pre-Tax)2.1 yearsPayback Period (After-Tax)2.4 yea...