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Ann: Bald Hill Tantalum Offtake Term Sheet Executed, page-32

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El Jefe

6,066 Posts.

882

25/01/18

12:26

Post #: 30564802
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Originally posted by binwood ↑

The FS says we will produce 260,000 lbs of Tanatalum Pentoxide with an average recovered grade of 25%, i.e what the offtake is based on. As El Jefe says they used a price of US$60/lb which is now trading at $90/lb. Let's split the difference and call it $75/lb that we receive.

The FS allocated A$133 of tantalum credits per tonne of spodumene (which is basically 260,000 lbs x A$80 / 155,000 tonnes of spodumene). If we increase this by 25-50% we are gaining an extra $33-66 of credits per tonne of spodumene.

Once fines circuits are installed etc this could bring down our opex to something like US$300. We could theoretically be netting US$580/t over 200kt by 2019. EBITDA of $72m attributable to TAW.

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Thanks for those figures.
Just to add that’s at 260k il/yr which this contract will far exceed all going well.
600k ils over 18-20 months.

I just checked my notes and want to retract the $90 Aud figure, I’m getting confused with something else so I have no idea what the price will be for this.

TAW Price at posting: 49.0¢ Sentiment: Buy Disclosure: Held
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