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American Pacific Borates optimises Fort Cady Borate Mine flow sheet ahead of DFS release in April

In January 2019 the DFS was enhanced to include a low capex starter project with an estimated capex of only US$36.8 million – a financial model is currently in final draft.

American Pacific Borates Ltd - American Pacific Borates optimises Fort Cady Borate Mine flow sheet ahead of DFS release in April
Engineering studies on the enhanced DFS have been completed for the Fort Cady Borate Mine

American Pacific Borates Ltd (ASX:ABR) has been optimising the flow sheet at the flagship Fort Cady Borate Mine in southern California with a view to maximising by-product SOP production.

The company has completed all relevant engineering studies required for the enhanced definitive feasibility study (DFS).

A financial model has been prepared and is in final draft, subject to a detailed review.

ABR expects the enhanced DFS to be completed and released in Aril 2020.

The DFS is targeting an increase in sulphate of potash (SOP) production for Phases 1B, 2 and 3.

$7.1 million raising

In February the company raised $7.1 million through a placement of shares at 40 cents per share to institutional, professional and sophisticated investors.

The placement introduced several new domestic and international institutional and high net worth investors to the share register.

Funds raised will be used towards progressing construction activities at the Fort Cady Borate Mine in California, US.

Quick facts: American Pacific Borates Ltd

Price: 0.8 AUD

ASX:ABR
Market: ASX
Market Cap: $255.53 m
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American Pacific Borate & Lithium MD discusses enhanced DFS metrics

American Pacific Borate and Lithium Ltd (ASX:ABR) managing director Michael Schlumpberger talks Proactive Investors through the company's enhanced Definitive Feasibility Study (DFS) on the Fort Cady Borate and Lithium Project, which is located in Southern California, USA. The improved...

on 02/10/2019

2 min read