Parkway outlines potential numbers for Karinga Lakes SOP development

PARKWAY Minerals has outlined a relatively modest SOP development near Alice Springs in central Australia that prefeasibility work suggests will cost A$80 million to build.
Parkway outlines potential numbers for Karinga Lakes SOP development Parkway outlines potential numbers for Karinga Lakes SOP development Parkway outlines potential numbers for Karinga Lakes SOP development Parkway outlines potential numbers for Karinga Lakes SOP development Parkway outlines potential numbers for Karinga Lakes SOP development

Karinga Lakes, NT

The Karinga Lakes project, which was modelled as a 40,000t per annum SOP producer at operating costs of $293/t for 20 years, was calculated to have a post-tax net present value of $80.1 million and an internal rate of return of 20.4%. 

The project involves Parkway's acquired aMES technology, described as an innovate process "developed (for) a range of challenging brine streams from the mining industry, in order to recover valuable minerals, reagents as well as produce fresh water".

Parkway has a 15% stake in the project - majority owned by Verdant Minerals - with the ability to earn another 25% by spending $2 million advancing the venture.

Parkway raised $1.6 million last month by issuing new shares priced at 0.9c each for a number of "strategic growth initiatives including expanding in-house technical and commercial capabilities, to support increasing business development related activities".

Parkway started the December quarter with $1.5 million cash.

Shares in Parkway were unchanged at 1c in morning trade, capitalising the company at $19 million.