Clean TeQ Holdings Limited (ASX: CLQ) saw a stock price fall of over 12% on June 25, 2018, while the market expected a better update from the Sunrise Project. Particularly, the DFS confirmed the Project’s potential to become a globally significant supplier of nickel sulphate and cobalt sulphate – critical raw materials required to support the development of the rapidly emerging electric vehicle industry.
Clean TeQ’s vision is to empower the clean revolution by applying their proprietary technologies to find better ways to solve the planet’s most pressing environmental problems. Completion of the DFS is an important milestone in the development of Clean TeQ Sunrise, one of the largest greenfield mine development projects in Australia. Utilizing Clean TeQ’s proprietary Clean-iX® processing technology, the Project has been consciously designed to balance economic returns with industry-leading approaches to the management of occupational health and safety, water use, power consumption and emissions.
The Clean TeQ Sunrise Project is expected to create hundreds of direct and indirect jobs in regional NSW through the construction and operations phase. It has the potential to provide tremendous economic and social benefits to the local communities in the Shires of Lachlan, Forbes, Parkes and surrounding areas. Over an estimated mine life of more than 40 years, the Project is expected to deliver substantial financial benefits to local, regional and national stakeholders through taxes, royalties, council rates, upgrades to local infrastructure, community enhancement contributions and other local community initiatives. As per the update, the project is slated for a post-tax net present value of about US$1.392 billion and an internal rate of return of 19.1%.
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