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Ann: Perenjori High Grade Iron Ore Production Study Commenced, page-83

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Alethic

28 Posts.

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21/05/21

11:18

Post #: 53327600
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Originally posted by 1%aday: ↑

Just looking at the figures from the SS previously done and which, BTW, determined the project's current
viability as a potential future iron ore producer with current resources. The resource was conducted in 2013 by CSA Global under the JORC 2004 compliances. There has been no material change since the 2013 resource calculation and is therefore considered acceptable.

So that means we can take these figures from the SS as a currently acceptable study. Release Date: 26/02/21: Perenjori Iron Ore Project Reviewed with JORC Tables

Now we know the OPEX for each tonne produced at Perenjori Iron Ore Project is $39.40/t AUD
Current Iron ore spot price is $270/t AUD
SS study on 5Mt/year
Capex is $265m AUD
LOM 11 years @191Mt, note that this is upgradable to 500Mt+ according to the same study mentioned above!!!!!!

$270-$39.4=$230.6/t@5m t/y=$1.153billion/y profit
take away CAPEX $265m therefore 3 months to recoup capital expenditure, rest is all profit ie $885,000,000 for the first year and $1.15b/year for the following 10 years. When and if we upgrade the resource to 500Mt+, the life of mine will be at least 20years+

I have done a post on the NPV. Post #:51363953
In summary, I just replaced the current Iron ore price plus the updated yield. In a worst-case scenario, we would get an NPV of $4.5billion. It's just a formula. Not rocket science. Numbers don't lie. Anyone can take these numbers and do the maths themselves.
PS. the only variable that could possibly be is that the CAPEX would be higher. A $265M Capex seems a bit low compared to other Magnetite producers, however, the nature of the iron ore that we have has been shown to be coarse in size. That could possibly explain the lower CAPEX. But that's a discussion for another day, especially if we are suitable for HIsmelt tech which produces $450/t USD Pig Iron sold directly to the USA. Opex seems to be close to other producers, but even if we increase it by 10% or 20%, it would still be very lucrative.

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I believe a large factor in the relatively low CAPEX is due to it being close to road, rail and port infrastructure? And also relatively close to Perth/Geraldton?

SRN Price at posting: 2.4¢ Sentiment: Buy Disclosure: Held
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Ann: Perenjori High Grade Iron Ore Production Study Commenced, page-83

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Ann: Perenjori High Grade Iron Ore Production Study Commenced, page-83

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