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30/04/21
09:24
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Originally posted by Awcn21:
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HIGHLIGHTS • Construction activities progressing for Fort Cady Borate Mine • Enhanced DFS updated with the addition of a new phase 1C to bring forward SOP production and deliver meaningful EBITDA in CY2023. Updated Project metrics include (US$1.00:A$0.75): ▪ NPV8 of US$2.02 bn / A$2.69 bn (previously US$1.97 bn); ▪ IRR of 40.6% (previously 39.4%); and ▪ EBITDA of US$453m / A$604m (previously US$438m) in first year of full production • US Advisory Board established to drive US listing process, with John Mitchell appointed Chairman, Tim Johnston and Govind Arora to make up balance of the three-member Advisory Board • Advisory Board process already well advanced with respect to potential senior executive appointments • Discussions with potential sales and marketing partners advancing • US$30m equity financing completed to fully finance Phase 1A capex • NASDAQ listed Matrix Service Company (NASDAQ:MTRX) appointed to complete construction of Phase 1A • Construction activities continue, with first production as part of the commissioning process on track for Q3 CY2021 • Continued corporate focus on borate educational marketing associated with key decarbonisation technologies • A$59.2m cash at bank as at 31 March 2021
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Interesting they changed the construction contractor company, wonder if needed a different skill set to complete construction or whether previous mob (think Oklahoma based) were not delivering. Anyhow not a big deal. cheers