| Announcement Date: | 2022-09-27 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | JORC |
| Company name: | Magnis Energy Technologies Ltd. |
| Project name: | Nachu |
| Location: | Tanzania |
| Commodities: | Graphite |
| Highlight: | Feasibility Study result incl. Post Tax NPV (10%) of USD $1200M & IRR of 51% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Magnis Energy Technologies Ltd (“Magnis”, or the “Company”) (ASX: MNS; OTCQX: MNSEF; FSE: U1P) is pleased to announce that it has completed an update to the 2016 Bankable Feasibility Study (BFS) for its Nachu graphite project in Tanzania (the Nachu Project or the Project) and confirms that the Project continues to demonstrate strong financial and technical viability. Commenting on the completion of the BFS update, Magnis Energy Technologies, CEO, David Taylor stated: “The update to the BFS demonstrates that the Nachu Graphite Project represents one of the best graphite production opportunities in today’s market. The project will produce a high quality, sustainable product that requires minimal purification, placing Magnis in a strong competitive position relative to others in the market. Our high purity graphite concentrate will provide lithium-ion battery manufacturers and other industrial customers with an attractive and competitive alternative to current sources in the global graphite market. The update to the BFS has focused on improving the plant process design to ensure it maintains our product quality advantage, utilizing a more sustainable and efficient power supply, and reviewing the overall capital and operating costs of the project. |
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