Pre-Feasibility Study

Pre-Feasibility Study Highlights Robust, Short Lead Time Start-up Opportunity


  • Start-up manganese concentrate export scenario has been developed for the Butcherbird Manganese Project as part of a staged development strategy.
  • Maiden Proved and Probable Ore Reserve of 50.55Mt at 10.3% Mn containing 5.22Mt Mn (4.28Mt Recoverable Mn).
  • Pre-tax Net Present Value8 (NPV8) of Nominal A$441M
    (Real A$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.
  • Full beneficial production scheduled for next financial year.
  • 42 year mine life based on Measured and Indicated Resources.
  • Medium grade manganese market is the fastest growing section of the manganese market.
  • Base case assumes annual production and sale of 312,000tpa of medium grade lump manganese concentrate grading 30-35% Mn.
  • Complements and enhances the plan to develop and Electrolytic Manganese Metal (EMM) plant.

For full details please refer to the full Company ASX release located here.  

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