Mungana Goldmines Limited (ASX:MUX) announced that Newcrest Mining (ASX:NCM) has commenced exploration work as part of the exploration agreement at Mungana's Chillagoe Project in North Queensland.
Black Rock Mining Ltd
Black Rock Mining Limited is an Australian based company listed on the Australian Securities Exchange (ASX:BKT). The Company has a 100% interest in the Mahenge Graphite Project located in Tanzania. The Project has a JORC compliant Mineral Resource Estimate of 212m tonnes at 7.8% TGC. It also has Ore Reserves of 70m tonnes at 8.5% TGC. The Ore Reserves support a mine life of up to 350k tonnes of graphite per annum for a reserve life of 16 years.
In October 2018, the Company released a Definitive Feasibility Study (DFS) for the Project, which was based on strong customer demand. This was enhanced in July 2019, and demonstrates exceptional financial metrics including:
- Low Capex: Lowest peak capital expenditure of US$116M for phase one;
- High Margin: AISC margin of 63.1%;
- Low Technical Risk: Substantial pilot plant operations run of 110 tonnes; and
- Superior Economics: IRR of 44.8% with NPV10 of US$1.16bn
In February 2019, the Company announced receipt of its mining licence for the DFS project.
In May 2019, the Company announced it had substantially allocated planned production with up to 255k tonnes per annum of graphite committed to sale by year three of production, through Pricing Framework Agreements.
The Company is currently progressing financing discussions and detailed engineering with a view to commencing construction of the mine.
For further information, please visit www.blackrockmining.com.au