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Revised feasibility study overturns the value of the Galaxy Lithium Project

APR 29, 2019   Pageview:654

Perth-based Galaxy Resources has released its latest feasibility study for its high potential SaldeVida lithium-potassium salt project in Argentina.

 

The latest results show that the site has a reserve estimate of 1.1 million tons of lithium carbonate equivalent (LCE) and 4.3 million tons of potash (potassium chloride) in accordance with JORC standards, with a potential annual production of 25,000 tons of LCE and 94,000 tons of potash.

 

The company has proposed a revised net after-tax net present value of $1.48 billion ($1.98 billion) for the project, an increase from the previously mentioned figure of $1.41 billion.

 

Galaxy also reported that the project is likely to generate an average annual income of $360 million and an average EDITDA of $270 million (excluding income before income tax, depreciation, and amortization).

 

Capital costs are now estimated at $474 million, which is higher than the $367 million in the feasibility study report before 2016.

 

Last year, the Galaxy Group raised $61 million to fund development projects in Argentina and Canada, including the SaldeVida project.

 

Galaxy has appointed JP Morgan Australia as a financial adviser to assist with strategic partnerships and opportunities to advance the development of SaldeVida.

 

Galaxy Managing Director Nicholas Tse commented that the company is very pleased that the economic modification of the project has strengthened its position as a “world-class asset”.

 

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