Ucore Rare Metals Inc. (TSXV:UCU, OTCQX:UURAF) announced that they have received strong results from the PEA regarding the Dotson Ridge Zone of their Alaskan Bokan Mountain heavy rare earth property.
Ucore Rare Metals Inc. (TSXV:UCU, OTCQX:UURAF) announced that they have received strong results from the PEA regarding the Dotson Ridge Zone of their Alaskan Bokan Mountain heavy rare earth property.
As quoted in the press release:
Highlights of the PEA Include:
- Net Present Value (NPV): $577M at a 10% discount rate, pre-tax.
- Internal Rate of Return (IRR): 43%.
- Payback Period: 2.3 years.
- Capital Cost: $221M, including a complete on-site rare earth oxide (REO) separation plant, and a contingency provision in the amount of $25M. Among the lowest capital outlays in the rare earth mining sector.
- Mining Rate: 1,500 tonnes per day (TPD), 75% of mill feed is eliminated via the use of Dual Energy X-Ray Transmission (DEXRT) sorting and magnetic separation, netting approximately 375 TPD to feed the leach circuit.
- Average Total Rare Earth Recoveries: 81.6%
Ucore’s President and CEO, Jim McKenzie, said:
Bokan’s unique features have generated a CAPEX that is among the absolute lowest in the industry, remarkably including full downstream separation facilities that promise to render high purity oxides both economically and on-site. In turn, the Bokan PEA has delivered highly robust IRR and NPV calculations. Beyond all of this, the Bokan facility will have little in the way of direct domestic competition.