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Valence Industries Ltd. (ASX:VXL) released an update to its January 2, 2015 feasibility study for its Australia-based Uley graphite project. The revisions made account for a 43-percent increase in the project’s graphite ore reserve on May 14, 2015.
Valence Industries Ltd. (ASX:VXL) released an update to its January 2, 2015 feasibility study for its Australia-based Uley graphite project. The revisions made account for a 43-percent increase in the project’s graphite ore reserve on May 14, 2015.
Highlights include:
- Feasibility Study valuation updated for interim increase in Ore Reserve:
- Graphite Project NPV10 increased by 38% to $90M.
- IRR increased to 47%. o 60% increase in mine life to 8+ years
- Updated Project NPV of $90M equates to more than 2x the current market capitalisation of the Company
- Revised Feasibility Study highlights compelling commercial viability of the Project
MD and CEO Christopher Darby commented:
This significant and highly positive revision to the Feasibility Study for the Uley GraphiteTM Project highlights its compelling commercial viability. Furthermore, the Project’s significant uplift in NPV to $90m suggests significant value upside in the company as this equates to more than double Valence Industries’ current market capitalisation.
Click here to read the full Valence Industries Ltd. (ASX:VXL) press release.