(MENAFN- ProactiveInvestors)
() has increased Uley Graphite Project NPV by 38% to $90 million IRR to 47% and mine life by 60% to 8 years highlighting the commercial viability of the project in South Australia.
This improvement does not account for the company’s strategy to increase production of higher value advanced manufactured graphite product from 5% of output to 40% of total output.
Managing director Christopher Darby spoke on the company’s updated Feasibility Study.
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Graphite production and exports have commenced from the existing plant with output expected to increase to 14000 tonnes per annum rated capacity in the third quarter of 2015.
Funding is now in place for operations and expansion strategy.
The expansion program includes a new high grade open pit mine and materials handling and advanced manufacturing plant that will increase graphite processing capacity to 64000 tonnes per annum.
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