The project's pre-tax numbers include an NPV increasing 28% to $705 million and an IRR going from 32% to 37%, while average annual earnings (EBITDA) have risen from $86 million to $104 million.
Average annual production is up very slightly from 220,000t to 222,000t, with about 66% of revenue already secured through offtake contracts.
A revised foreign exchange rate for the Australian dollar of US70c is now being used, versus 72c previously.
Strandline's hunt for funding follows Sheffield Resources thus far unsuccessful attempt to finance its Thunderbird mineral sands project (also in WA) last year, although in the case of Coburn the capital hurdle is less challenging.
Shares in Strandline were up 10% to 17c in midday trade, capitalising the company $66 million.
The stock is up 150% since the COVID-19 market crash in March.
