Results of Glenover PEA

Galileo-Resources-PlcMarch 7, 2013 (Source: Galileo Resources) – Galileo, the emerging African Rare Earth exploration and development company, is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) of its Glenover Rare Earth Project (“Glenover Project or the Project”) in South Africa.

 

 

 

Economic Highlights

  • Net Present Value (“NPV”) of US$ 512 million using a rare earth oxide (REO) basket price 2 of US$60.79 per kg of 99% REO and a discount rate of 8%. (NPVs at different rates are set out below e.g. NPV of US$783 million at a discount rate of 5%).
  •  Internal Rate of Return (“IRR”) of 34.5 % for the Project
  • REO production of 167,100 t (tonnes) in mixed high-grade REO chemical product over 24-year life of mine (LOM) on current resource estimate
  • Ore production rate from 2.7 Mt stockpiles at 400,000 t per year 1 to 7
  • Open-pit-mine ore production from 7.1 Mt at 400,000 t per year from year 8
  • Waste to ore mine stripping ratio of 2.1 to 1 from year 8
  • Initial capital investment US$233M, including a contingency of US$34M but excluding $57M for deferred and sustaining capital

For a copy of the full news release click here

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

REE Leaders Index
REE Leaders Index
(Bloomberg Ticker: REEL)
Lead Sponsors
Krucible Metals Ltd. Something else
Cancel
REE World login
ProEdge Media
Copyright © 2012 ProEdge Media Corp. All rights reserved.

ProEdge Media Corp. text, photos, graphics and logos shall not be used for commercial purposes, reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. ProEdge Media Corp. shall not be held liable for any delays, inaccuracies, errors or omissions in any ProEdge Media Corp. original content, or for any actions taken in consequence. ProEdge Media Corp. materials may not be stored in whole or in part in a computer except for personal non-commercial use. As a newswire service ProEdge Media Corp. does not obtain release from the subjects, individuals, groups or entities contained in its photographs, graphics or quoted in its text. Further, no clearance is obtained from the owners of any trademarks or copyrighted material where the marks and material are included in ProEdge Media Corp. photos or content. You shall be solely responsible for obtaining any and all the necessary releases from whatever individual or entity is necessary for any of your uses of ProEdge Media Corp. material. You agree to indemnify ProEdge Media Corp. from any losses, damages and expenses (including reasonable attorney fees) it incurs as a result of any claim based on your use of its materials in violation of these terms.

Disclaimer: ProEdge Media Corp., owners and operators of the ProEdgeWire and affiliated sites, has established the following rules to ensure that there is no appearance of impropriety on the part of any ProEdge Editorial writers. The content of ProEdge Editorial articles are the opinion of the Writer and any reliance on the content of these articles is at your sole risk. Our Writers are not registered investment advisors. You should not make any kind of investment decision in relation to Articles or stocks discussed in them without obtaining advice from a registered investment advisor.

Facts relied upon by our Writers are generally provided by the subject companies or gathered by our Writers from other public and/or private sources. These facts may be in error and if so, the opinions of our Writers may be materially different. Often times ProEdge writers will utilize advertorial companies as content sources. This is because we represent many of the leading companies in various sectors covered in our sites. Our advertisers are publicly disclosed at all times and listed in alphabetical order on the right column of each affiliated section.

If you have any questions or concerns, please contact us directly at (416) 581-0177 or email us at Publisher@ProEdgeMedia.com

exit
REE Leaders Index
REE Leaders Index
 (Bloomberg Ticker: REEL)
REE Leaders Index