Sevo
it is not "OK" & not to be compared the 'SOP' RWD, which is a different beast.
HFR is an underground 'MOP' potash mine using conventional methods
its grade is 18% - 19% KCI, where as most potash mines have potash at 32% KCI
thus HFR must mine & process close to double the amount of ore for the same production
plus their sylvanite is not the cleanest probably resulting in extra output loss & production costs
for HFR to produce 800,000t of potash per annum is the same as others producing (at least) 1,400 tonnes per annum
personally, I am very sceptical about these broker reports
to invest $300M capex for 800,000t production is close to unheard of
HFR originally acquired this project to try to restart the former Sierra del Perdón mine but now they seem to have given that up & a promoting these two greenfields projects
anyway, all the best
http://www.highfieldresources.com.au/pdfs/ReportCanaccordGenuity13Feb14.pdf
We estimate total cash costs for Javier to be ~US$171/t producing ~719ktpa of potash product over 18 years and Pintano to be ~US$160/t producing ~800ktpa of potash over 13 years.
Assumptions used for ‘Javier’ include:
• US$300m upfront Capex
• Total Cash Costs of US$171/t
• 18 year mine life
• Mining Inventory of 70Mt at average grade of 20% KCl
• 4.4Mtpa throughput
• Average annual production of 719kt of potash (excluding salt)
• Flat potash price of US$350/t FOB
• First potash production in SepQ’16
• No royalties
• 12% Discount rate applied
Assumptions used for ‘Pintano’ include:
• US$260m upfront Capex
• Total Cash Costs of US$160/t
• 13 year mine life
• Mining Inventory of 65Mt at average grade of 22% KCl
• 4.4Mtpa throughput
• Average annual production of 800kt of potash (excluding salt)
• Flat potash price of US$350/t FOB
• First potash production in SepQ’21
• No royalties
• 12% Discount rate applied
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