Surefire Resources NL (ASX:SRN) MD Paul Burton speaks with Proactive following news the company has completed a pre-feasibility study (PFS) for the Victory Bore Vanadium Project on time and on-budget, supported by METS Engineers, Snowden-Optiro and other key specialists. The PFS, which he describes as outstanding, lays out a pre-tax net present value (NPV10%) of A$1.708 billion, with an internal rate of return (IRR) of 42.22% and a life of mine (LoM) of 24 years. Those numbers add up to a pre-tax payback period of 2.4 years, based on a capital cost of A$767 million and operation expenditure of US$254 per tonne of concentrate.
“This is an outstanding result for our world-class critical minerals project and shows that in the current economic environment, offshore processing is the right approach to getting this project into development and production,” Burton said.
“We look forward to taking this project forward, completing the next significant milestones and engaging with Kingdom of Saudi Arabia KSA companies interested in being part of our project and development.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Surefire Resources NL is an Australia-based mineral exploration company. The Company holds mineral exploration licenses over Vanadium, Magnetite and Gold projects located in Western Australia. It is focused on Victory Bore Vanadium critical and battery minerals project. The Victory Bore project is located in the Mid-West region of Western Australia. Its Perenjori Iron Ore Project is located within 15 kilometers (km) of both the Morawa-Peronjori trunk rail line and the Karara rail spur. Its Yidby Gold Project is situated within the southern portion of the Yalgoo-Singleton Greenstone Belt, 40 km from Paynes Find and 400 km northeast of Perth. The project is also surrounded by several significant gold projects. Its Kooline Lead-Silver Project tenements cover almost 50 km strike length of mineralized Ashburton Formation and are located 55 km south of the one Moz Paulsenâs gold mine and 190 km northwest of Paraburdoo in the Ashburton province of Western Australia.