Mining Weekly reported that the Australian dollar’s depreciation is benefiting Vital Metals Ltd.’s (ASX:VML) Watershed tungsten project, located in Queensland.
As quoted in the market news:
Vital on Thursday reported that a review of its 2014 definitive feasibility study (DFS) had resulted in a decrease in expected capital expenditure, from A$172-million to between A$138-million and A$129-million, depending on the exchange rate.
A 15% reduction in operating costs has also been applied over the previous DFS assumptions of A$56-million a year, after vendors provided updates on previous estimates.
‘The combined effect of changes to exchange rate and operating cost base means that Watershed is now an even more compelling proposition,’ Vital MD Mark Strizek said.