Millennial Potash Files Preliminary Economic Assessment Technical Report for its Banio Potash Project
Millennial Potash Corp. has filed the NI 43-101 Preliminary Economic Assessment Technical Report for its Banio Potash Project in Gabon. The report, dated June 4, 2024, was prepared by Micon International and Agapito Associates Inc. It details a solution mining operation expected to produce 800,000 tonnes per year of granular muriate of potash (MOP). The project has a capital expenditure (CAPEX) of USD $480 million and an operating expenditure (OPEX) of USD $61/tonne MOP. It forecasts a post-tax net present value (NPV) of USD $1.07 billion and an internal rate of return (IRR) of 32.6%, based on an average MOP price of USD $387/tonne over a 25-year mine life.
- Filed NI 43-101 compliant Preliminary Economic Assessment for Banio Potash Project.
- Potential production of 800,000 tonnes per year of granular MOP.
- Post-tax NPV of USD $1.07 billion.
- IRR of 32.6%.
- CAPEX of USD $480 million.
- OPEX of USD $61/tonne MOP.
- High initial CAPEX of USD $480 million.
- Dependence on an average MOP price of USD $387/tonne for 25 years.
West Vancouver, British Columbia--(Newsfile Corp. - June 6, 2024) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is pleased to announce that on June 6, 2024 it has filed the technical report "NI 43 101 Preliminary Economic Assessment Technical Report on the Banio Potash Project, Gabonese Republic", dated June 4, 2024 with SEDAR in compliance with NI 43-101. The technical report was completed by Micon International Ltd. and Agapito Associates Inc., and was authored by Liz de Klerk, Pri. Sci. Nat, FIMMM, Chris Gilchrist, Ph.D., C. Eng, Ryan Langdon PhD, MCSM, MEarthSci, CGeol, FGS, and Biao Qiu, P.E., P.Eng.. The Banio Preliminary Economic Assessment report outlines the details of a solution mining operation at Banio, potentially producing 800,000 Tonnes Per Year of granular Muriate of Potash (MOP) which yields a CAPEX of USD
The information in this news release has been reviewed and approved by Liz de Klerk of Micon and Peter J. MacLean, Ph.D., P. Geo, Director of the Company, and both are Qualified Persons as that term is defined in National Instrument 43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at info@millennialpotashcorp.com.
MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211836
FAQ
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What is the average MOP price used for the Banio Potash Project's financial assessment?
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