| Key Physicals | Interim Financial Model |
| Pre-production CAPEX
(infrastructure, mine site, concentrator, process plant) |
A$824 million
|
| IRR pre-tax | 33% |
| NPV (at 8% discounted) | A$2.8 billion |
| Pay back | 2.8 years |
| Pre-tax net annual average cash-flow | A$359 million |
| Life-of-mine net cash-flow | A$12.2 billion |
| Ore feed | 2 Mtpa |
| Scheduled mined processed material LoM | 69 Mt |
| Magnetic concentrate LoM | 23.3 Mt |
| Fe2O3 LoM | 17.6 Mt |
| V2O5 LoM | 0.231 Mt |
| Titanium Pigment LoM | 3.5 Mt |
| OPEX per tonne of ore processed** | A$210 |
The Interim Financial Model is an updated version of the Feasibility Study financial model (see ASX announcement dated 20 November 2017) following optimisation of the mining schedule to a single-stage, 2 million tonnes per annum mining operation.
Further details on the Interim Financial Model can be found on the ASX Announcement of 11 September 2019.
*Updated assumptions include long-term A$; US$ exchange rate of 0.70; updated long-term price assumptions of US$25,400/tonne for V2O5 (US$11.50/lb), US$3,600.00/t TiO2 pigment and US$102.00/tonne for high grade Fe2O3.
**Includes lease repayments
Note: ALL prices and outcomes are indicative only while the FEED process is progressing and is an interim study, not final.