Epanko's new NPV a miscalculation - Kibaran
PERTH (miningweekly.com) – Graphite developer Kibaran Resources has withdrawn an updated net present value (NPV) estimation for its Epanko project, in Tanzania, claiming a miscalculation.
The ASX-listed junior earlier this week reported that an independent review of the project had increased the projected NPV by 55%, from the A$213-million estimated in a scoping study, to A$515-million, based on an output of 40 000 t/y of graphite.
However, Kibaran said on Thursday that the independent analysis had contained a "significant formula error", and had overstated the project’s estimated NPV.
Meanwhile, the graphite developer has told shareholders that it expected the projected NPV of the Epanko project to improve during the upcoming bankable feasibility study (BFS), based on current indications.
The BFS would be completed by the end of June.
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