Sydney - Thursday - April 12: (RWE Aust Business News) - Metals X
(ASX:MLX) has completed the scoping study for the Wingellina nickel-cobalt limonite deposit.
The scoping study has been performed at a flat nickel price of $US20,000 per tonne and a flat cobalt price of $US15 per pound. These prices are only 40pc of the current spot metal prices but are considered to be more appropriate long-term prices for the metal given the long project life and gestation period of up to 4 years before production could occur.
To understand the upside impact, at the current spot price of $US50,000 the NPV (8pc nominal) pre-tax is $21.5 billion with an IRR of 94.8pc.
On the downside scenario, a similar estimate of these financial measures at $US15,000 per tonne for nickel gives an NPV of $2.6 billion with an IRR of 22.2pc.
Metal X shares were up 1c to 34.5c.
ENDS
npv 12.9biln :: 2mil tonnes nickel
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