Element 25 Highlights June Quarter Progresses, Stock in Green

  • Jul 20, 2020 AEST
  • Team Kalkine

Developing the world class Butcherbird Manganese Project, Element 25 Limited (ASX:E25) witnessed excellent progress in the quarter ending 30 June 2020. The PFS and maiden reserve published during the period showcase-

  • Maiden Proved, Probable Ore Reserve of 50.55Mt at 10.3% Mn containing 5.22Mt Mn (4.28Mt Recoverable Mn).
  • PFS returns a pre-tax Net Present Value8 of Nominal $441M (Real $283M) and IRR of Nominal 255%, (Real 223%).
  • Low capital requirement of $14.5M plus $9.2M working capital
  • Average annual operating cashflow of $32.1M for years 1-5
  • Simple payback period 6 months from start of operations
  • 42-year mine life based on Measured and Indicated Resources

Post the PFS, a water bore drilling programme commenced, final Access Agreement was signed and sub-sampling of diamond core from BBDD016 drilled into Coodamudgi manganese resource returned high grade manganese values of up to 42.3%Mn from surface with low impurity levels.

After the quarter, E25 received firm commitments from sophisticated, professional, and institutional investors to raise up to a total of $3.5M (before costs) and is conducting a SPP to existing eligible shareholders to raise up to $1.5M.

E25 was trading up 1.17% at 11:56 AM AEST.

 

 


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