Alderon files NI 43101 updated feasibility study for Kami iron ore on

first_imgTotal Estimated Capital Cost (excluding sustaining capital and closure costs)$982.41 M Final Product Iron Grade (%Fe) CFR Concentrate Sales Price Forecast – based on three year trailing average CFR benchmark price of $63.30/dmt @ 62% Fe, adjusted for Kami Fe grade, and HBIS and Glencore agreement terms$/dmtR $89.67CF(FOB $73.17) Internal Rate of Return (“IRR”) 23 years 517.2 Mt Average Estimated Operating Costs (loaded in ship Port of Sept-Îles)$/dmt30.72 Estimated Mine Life Net Present Value (“NPV”) at 8% discount rate$1,698 M Alderon Iron Ore Corp has filed its NI 43-101 Technical Report entitled “Updated Feasibility Study of the Kamistiatusset (Kami) Iron Ore Property, Labrador”, effective September 26, 2018 on SEDAR. The updated FS is an update to the feasibility study on the Kami Iron Ore Project that was issued on January 16, 2013. The study was completed by BBA Inc and once again demonstrates the strong economics of the Kami project which will produce a premium-quality iron ore concentrate with higher Fe content and ultra-low impurities relative to the 62%-Fe grade benchmark. Coupled with the sustained demand for high-grade iron ores, the robust project economics form the foundation of Alderon’s relaunch of its project financing efforts.The updated FS replaces the company’s November 2017 PEA as the current technical report on Kami.The results of the updated FS are based on 100% ownership of the Kami project, which is held through The Kami LP, as to 75% by Alderon and 25% by HBIS Group Co. The results of the updated FS are expressed in US Dollars and pre-tax (except where otherwise indicated).center_img 24.6% 4.0 years The Kami Mine Limited Partnership, is located within Canada’s premier iron ore district, the Labrador Trough, and is surrounded by three producing iron ore mines. Its port handling facilities are located in Sept-Îles, the leading iron ore port in North America. HBIS is Alderon’s strategic partner in the development of the Kami Project and China’s second largest steel producer. Proven and Probable Mineral Reserves (COG=15%,28.8% Total Fe, 3.4% Dilution, 2.5% Ore Loss) 65.2% Annual Concentrate Production Rate (average life of mine, post ramp-up year) 7.84 Mtpa Projected Years to Paybacklast_img

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