PR Newswire
VANCOUVER, BC, Nov. 24, 2021
VANCOUVER, BC, Nov. 24, 2021 /PRNewswire/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce the results of its Preliminary Economic Assessment (PEA) and updated mineral resource estimate for the development of its Wicheeda Rare Earth Element (REE) deposit located in British Columbia, Canada. The PEA was prepared by SRK Consulting (Canada) Inc. (SRK). The effective date of the PEA is November 21, 2021 and a technical report relating to the PEA will be filed on SEDAR within 45 days of this news release.
PEA Highlights
Strong Financial Metrics
Significant Production Potential
Development Capital
Mineral Resource Estimate
Exploration Upside
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1 All figures are in Canadian dollars unless otherwise specified |
Craig Taylor, CEO of Defense Metals, stated: "We are pleased to have delivered a positive PEA for the Wicheeda REE Project that has the potential to be one of the top REE projects in the world. We chose SRK due to its world class experience and reputation in the mining industry and in particular its ability to assemble a team with highly specialized knowledge of Rare Earth Elements projects. The results of the PEA reveal the Wicheeda Project demonstrates robust economics and relatively low initial CAPEX via a staged development scenario that provides the flexibility to capitalize on forecast REE demand pressure."
Dr. Luisa Moreno, Director, added: "The Wicheeda project has the three main aspects for a successful rare earth project, favorable minerology dominated by coarse grained bastnasite family minerals, a metallurgical process that yielded high grade flotation concentrate and great infrastructure in a friendly jurisdiction. With the positive PEA, the project is undoubtedly a step closer to production."
PEA Key Metrics
Table 1: Key financial and project metrics
Project Metric | Units | Value |
Pre-tax NPV @ 8% | $k | $764,586 |
After-tax NPV @ 8% | $k | $511,577 |
Pre-tax IRR @ 8% | % (real) | 20% |
After-tax IRR @ 8% | % (real) | 17% |
Undiscounted After-tax Cashflow (LOM) | $k | $1,785,587 |
Payback Period from start of production | Years | 5 |
Initial Capital Expenditure | $k | $599,845 |
Maximum Production Rate | Mtpa | 1.8 |
Mine Life | years | 16 |
Ramp-up Years | years | 1 |
Average Production Rate after Ramp-up | Mtpa | 1.73 |
Mill Feed for Concentrate Sales | tonnes | 5,416,388 |
Mill Feed for HM Plant Precipitate Sales | tonnes | 20,712,812 |
Total Mill Feed | tonnes | 26,129,200 |
Life Mine ROM Grade | % REO in mill feed | 2.33% |
Life of Mine Waste Rock | tonnes | 45,658,098 |
Life of Mine Strip Ratio | Waste:Mill feed | 1.75 |
Net Revenue from Concentrate | $k | $862,520 |
Net Revenue from Precipitate | $k | $5,236,095 |
NSR (concentrate and precipitate) | $/tonne mill feed | $228.73 |
Operating Margin | % | 65.21% |
Operating Costs | | |
Mining | $/t | $13.14 |
Beneficiation | $/t | $13.63 |
Beneficiation Tailings | $/t | $1.25 |
Hydrometallurgical Plant (per tonne of mill feed for HM) | $/t | $55.75 |
Hydrometallurgical Tailings (per tonne of mill feed for HM) | $/t | $0.86 |
Water Management | $/t | $1.91 Werbung Mehr Nachrichten zur Defense Metals Aktie kostenlos abonnieren
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