Parkway Minerals
Parkway Minerals (ASX:PWN) aims to extract potassium - for the production of potash - from one of the world's largest greensand deposits.
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Potash West doubles Dinner Hill mine life
Revised scoping work at Potash West's (ASX:PWN) Dinner Hill phosphate prospect in Western Australia has doubled the expected mine life to 40 years and improved net present value by 14%.
Dinner Hill's pre-tax NPV now totals A$378 million, compared to the previous estimate of $331 million.
The life extension and value growth delivered by the scoping study have encouraged Potash West to immediately begin a prefeasibility study including new metallurgical testwork.
So far, an average mine production rate of 3.8 million tonnes per annum to produce an average of 400,000 tonnes per annum of single superphosphate (SSP) over the 40-year life has been considered. SPP is a versatile and widely marketable fertiliser.
A fall in global oil costs and a weakening of the Australian dollar since the Dinner Hill's previous financial assessment have contributed to a number of more streamlined metrics at the project.
Beyond the doubled mine life and increased NPV, these improvements include a 10% drop in operating costs to $190 per tonne of product and a 24% rise in EBITDA to $52 million per annum.
Other Parkway Minerals news
- Parkway Minerals granted US patent for its potassium extraction process
2018-05-31 - Parkway Minerals' shares up on back of increase in Davenport Resources' potash resource
2018-04-17 - Parkway Minerals leveraged to growing demand for fertiliser products
2018-03-06 - Parkway Minerals NL samples high grade potash at Lake Barlee
2017-05-30 - Parkway Minerals sees Davenport IPO as rare potash opportunity
2016-12-08
