Surefire Resources says PFS shows Victory Bore is world-class vanadium project
Melbourne, Victoria
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December 05, 2023 01:30 PM Eastern Standard Time
Surefire Resources NL (ASX:SRN) MD Paul Burton speaks with Proactive following news the company has completed a pre-feasibility study (PFS) for the Victory Bore Vanadium Project on time and on-budget, supported by METS Engineers, Snowden-Optiro and other key specialists. The PFS, which he describes as outstanding, lays out a pre-tax net present value (NPV10%) of A$1.708 billion, with an internal rate of return (IRR) of 42.22% and a life of mine (LoM) of 24 years. Those numbers add up to a pre-tax payback period of 2.4 years, based on a capital cost of A$767 million and operation expenditure of US$254 per tonne of concentrate.
“This is an outstanding result for our world-class critical minerals project and shows that in the current economic environment, offshore processing is the right approach to getting this project into development and production,” Burton said.
“We look forward to taking this project forward, completing the next significant milestones and engaging with Kingdom of Saudi Arabia KSA companies interested in being part of our project and development.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
