Orocobre Limited Positive Results from PFS for Boric Acid Plantadmin
Orocobre Limited Positive Results from PFS for Boric Acid Plant
Brisbane, Australia, April 09, 2014 /FSC/ – Orocobre Limited (ORL – TSX, ORE – ASX),is pleased to announce the results of a Pre-Feasibility Study (“PFS”) on the development of a 25,000 tpa boric acid plant at Olacapato in NW Argentina (“Olacapato Project”).
Positive Results from Pre-Feasibility Study for
25,000 tpa Boric Acid Plant at Olacapato
Production Rate 25,000 tpa Boric Acid
Capital Cost US$ 18.2 million plus
$2.6m in working capital
and commissioning costs.
Payback 4.9 years
Cash Operating Cost
at 25,000tpa 484 US$/ton
After Tax NPV (10%) $18.1 million
After Tax IRR% 24%
Modelled Project Life 20 years
Measured and Indicated
Resources 1.02 Million tonnes B2O3
The Project has strong fundamentals with a healthy after tax internal rate of return
of 24% based on modeled project life of 20 years underpinned by a resource base of 1.02 million tonnes B2O3.
The engineering design and cost estimates for the preliminary Feasibility Study was undertaken by Borax Argentina staff and consultants in conjunction with CP/QP Consulting Processing Engineer, Peter Ehren. The resource estimate and geological aspects were undertaken by CP/QP Consulting Geologist, Murray Brooker.
Richard Seville Managing Director and Chief Executive Officer of Orocobre Ltd said:
“We are very pleased to announce the positive results of our PFS.” Mr. Seville said. “The project has a modest capital requirement and an attractive IRR and we will advance the project now to the Definitive Feasibility Study stage and permitting. Although not material in itself, this project is part of a range of initiatives and projects in each of the product streams which are rejuvenating Borax Argentina and will establish it as a major and profitable regional player.”
To view the complete release including Forward Looking Statements, Technical Information, Competent Persons’ and Qualified Persons Statements with diagrams and charts, please visit:
About Orocobre Limited
Orocobre Limited is listed on the Australian Securities Exchange and Toronto Stock Exchange (ASX:ORE, TSX:ORL), and is building a substantial Argentinian-based industrial minerals company through the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina. The Company is building in partnership with Toyota Tsusho Corporation the first large-scale, “greenfield” brine based lithium project in 20 years at its flagship Salar de Olaroz resource, with projected production of 17,500 tonnes per annum of low-cost battery grade lithium carbonate scheduled to commence at the end of Q2, 2014. The Company also wholly-owns Borax Argentina, an important regional borate producer. Orocobre is included in the S&P/ASX 300 Index and was named 2012 Mining Company of the Year by Argentine mining magazine Panorama Minero and the Fundacion para el Desarrollo de la Mineria Argentina (“Fundamin” or Foundation for Development of Argentina Mining).
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To view the press release as a PDF, please click on the following link:
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Posted: April 10th, 2014 under FSCWIRE.