Mount Peake technical review raises expected returns
PERTH (miningweekly.com) – An independent technical review of ASX-listed TNG’s Mount Peake vanadium/titanium/iron project, in the Northern Territory, has improved the project’s financial parameters and forecast returns.
The technical review, which forms part of the ongoing definitive feasibility study, had found that a 10% fall in the Australian dollar value delivered a 20% increase in the project’s net present value, to some A$3.2-billion, while the internal rate of return had increased to 42.9%, up from 38.7%.
MD Paul Burton said on Monday that the review indicated that Mount Peake remained one of the most robust new strategic metals projects in Australia, with the potential to underpin a substantial, long-life resource project for the Northern Territory.
He noted that the review also noted that the outlook for the key products to be produced at Mount Peake, including high-purity vanadium pentoxide, iron oxide and titanium, remained extremely strong compared with the base case prices used in the prefeasibility study (PFS). This would provide further enhanced economics.
TNG was currently assessing the viability of a staged development for the Mount Peake project.
A PFS had previously found that the Mount Peake project could support a 2.5-million-ton-a-year operation, with a life-of-mine of some 20 years. The project could be expanded to a five-million-ton-a-year operation after the first three years, to deliver yearly production of 15 300 t of vanadium oxide, 375 000 t of titanium dioxide concentrate and 1.13-million tons of iron oxide.
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