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Great Western Minerals Group Releases Positive PEA Results for Steenkampskraal Rare Earth Project in South Africa
SASKATOON, March 18, 2013
“PEA Indicates $555 Million After-Tax NPV, 66% After-Tax IRR for
TSX Venture Symbol: GWG
CUSIP: 39141Y 10 3
SASKATOON, March 18, 2013 /PRNewswire/ – Great Western Minerals Group Ltd.
(“GWMG” or the “Company”, TSX:V – GWG) today announced positive results
from a Preliminary Economic Assessment (“PEA”) of the Company’s
Steenkampskraal rare earth element (“REE”) project that indicates
strong potential for GWMG’s integrated business model.
Project highlights (all amounts in this news release are in $ Cdn. unless otherwise
$555 Million after-tax net present value (“NPV”) applying a 10% discount
rate and a 28% South African corporate tax rate
- 66% after-tax internal rate of return (“IRR”)
- 4.3 year estimated Project payback period, on an after-tax basis, from
start of underground mining production.
- 11 year potential life of mine
GWMG President and Chief Executive Officer Marc LeVier said, “The PEA
conducted on the Steenkampskraal project confirms our internal
projections of a high grade and excellent distribution of the critical
rare earth elements. The impressive, high-grade nature of
Steenkampskraal translates into lower tonnages for processing, which in
turn, results in low capital cost requirements relative to other REE
projects. The work undertaken on the project to date and the
accelerated metallurgical testing program is intended to enable GWMG to
advance the project rapidly. This ‘early mover’ status, combined with
GWMG’s existing alloy manufacturing capacity, positions GWMG very
Financial and Operating Highlights
Additional 44.0 Million Ounces in Inferred Mineral Resources, at a 2.0 g/t 4PE Cutoff
Flatreef averages 24 metres in true thickness and is potentially amenable to large-scale, mechanized underground mining
Indicated and Inferred Resources also include substantial nickel and copper credits
Flatreef mineralization remains open for expansion, with approximately 37.5 square kilometres of property untested
Carbon Energy Ltd. has filed a Home Country News Release – Wyoming – JORC Inferred Resource of 910Mt To view the full release click here (link to PDF).
Areport this year by the Independent Investigation Committee on the Fukushima Nuclear Disaster, a group set up in September 2011 by the Rebuild Japan Initiative Foundation, condemned what it called Japan’s “absolute safety myth.” The Japanese government, in collusion with the media and the regional electric-power companies — with Tokyo Electric Power Co. (Tepco) at the front of the line — perpetrated this myth on a gullible public, the report inferred.
See the article here: Nuclear power profiteers seem keen to risk getting blood on their hands
May 9, 2012, Toronto, Ontario: Castillian Resources Corp. (“Castillian” or the “Company”) (TSXV: CT; OTCQX: CTIIF) is sad to announce the sudden passing of Paul C.M. Roberts, M.A.Sc, M.B.A., P.Eng., C.Eng, a member of the Board of Directors of the Company since June 2011. Mr. Roberts was President of Minvest Inc., a consulting organization providing technical and financial expertise to mining companies, the investment fraternity and governments. He successfully ran four publicly traded junior mining companies and served on several boards for various companies. Previously he headed the mining research team at Merrill Lynch Canada, working in corporate finance and institutional sales. Mr. Roberts was a geological and civil engineer who spent the first decade of his career in resource definition and development for an international mining consulting firm.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Bill Pearson, President & CEO of Castillian, commented: