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Reward Minerals affirms globally significant SOP project with PFS

Reward Minerals Ltd (ASX:RWD) chief executive Greg Cochran tells Proactive Investors the Potash-focussed exploration company has potentially found the largest and longest-life brine SOP Project outside of China, as detailed in a pre-feasibility study (PFS) recently released.

The PFS on the company’s flagship LD Project in Western Australia details a development period of just over three years plus a one-year production ramp up. Pre-tax net present value (NPV) calculated at a rate of 8% is $460 million, representing an internal rate of return (IRR) of 18%.

"The most important thing fundamentally about LD - the full name being Lake Disappointment, which I do like to talk about because I say, 'here's a project that is anything but disappointing' - it's got a wonderful future, given that here in one place, [in] one single deposit, we have what is arguably a hundred year plus operation... the PFS that we've just released extracts only 6% of the current existing resource," says Cochran.

 
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