Project F economics improve – Tigers Realm
PERTH (miningweekly.com) – The devaluation of the Russian rouble has allowed ASX-listed coal hopeful Tigers Realm to increase the economics of its proposed Project F, in Russia.
“With Project F’s operating costs largely denominated in roubles, the recent devaluation of the currency has further enhanced what were already extremely attractive project economics in US dollar terms," said Tigers CEO Craig Parry.
The junior on Friday noted that a review of the Project F bankable feasibility study (BFS) had revealed an increase in the net present value (NPV) and internal rate of return (IRR), while the life-of-mine (LoM) average free-on-board (FOB) costs have been reduced.
The fall in the rouble has increased the project’s NPV by 17.4% from $155-million to $182-million, while the IRR increased from 28% to 31%. The LoM average FOB cash cost has been reduced by 8.1% compared with the November BFS, to $62.9/t, while the steady-state FOB cash cost has been lowered by 11.5% to $57.6/t.
The BFS was based on an openpit resource of 14-million tonnes run-of-mine coal, and production has been estimated at around one-million tonnes a year, over a mine-life of 11 years. The project was expected to require a capital injection of some $121.7-million.
Subject to funding, the Project F operation was expected to be in production by the end of 2015.
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