Sunrise's $1.5B cost dawns on market

ACCORDING to Clean TeQ chief executive Sam Riggall it takes “real patience and commitment to build extraordinary things”.

Sunrise's $1.5B cost dawns on market Sunrise's $1.5B cost dawns on market Sunrise's $1.5B cost dawns on market Sunrise's $1.5B cost dawns on market Sunrise's $1.5B cost dawns on market

Clean TeQ chairman Robert Friedland at Mining Indaba earlier this year. Image: Dave Hann Photography

In the case of Clean TeQ, the extraordinary thing in question is its bold Sunrise nickel-cobalt-scandium project near the small town of Fifield in central New South Wales.

Riggall's patience and commitment comment was made during an investor presentation on Monday on the release of the long-awaited definitive feasibility study in to the development of Sunrise, a project plugged in to the lithium-ion battery boom if there ever was one.

Riggall might well have added a need for "deep pockets'' to his mantra that extraordinary projects require patience and commitment.

That's because the DFS came with a pre-production capital estimate of US$1.49 billion (including a $165 million contingency).

Now it can be said that the market was expecting the DFS figure t...