Clean TeQ's Sunrise the 'right project' for now

CLEAN TeQ Holdings says the results of the Sunrise definitive feasibility study confirm the project’s importance as a sustainable, long-life, low-cost source of high-purity nickel and cobalt sulphates for the battery industry.

Clean TeQ's Sunrise the 'right project' for now Clean TeQ's Sunrise the 'right project' for now Clean TeQ's Sunrise the 'right project' for now Clean TeQ's Sunrise the 'right project' for now Clean TeQ's Sunrise the 'right project' for now

On the ground at Clean TeQ's Sunrise project

The 2.5 million tonne per annum operation outside Syerston in New South Wales will cost US$1.49 billion, including $165 million contingency.

The DFS returned a post-tax net present value of $1.39 billion and an internal rate of return of 19.1%, based on life of mine revenue of $14.07 billion and estimated annual average EBITDA of $344 million.

The payback period is estimated at 4.3 years.

"This is the right project for this time," Clean TeQ CEO Sam Riggall said on a conference call this morning.

"It is the right project for five years' time. It is the right project for 10 years' time. It is the right project for 20 years' time."

The DFS modelled the first 25 years of operation, though the project has sufficient ore reserves for 40 years.

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