EDITOR: | March 21st, 2013

South Boulder Mines Colluli Potash Project: Updated Economics

| March 21, 2013 | No Comments

March 21, 2013 (Source: South Boulder) — South Boulder Mines (ASX: STB) wishes to provide an update in relation to the economic model for the Colluli Potash Project located in Eritrea.

To date, two studies to scoping level have been completed by the Company: “ESS-1”(1Mtpa Sylvinite processing only case) in November 2011, and “ESS-2” (2Mtpa of Sylvinite and Carnallite processing) in November 2012, details of both of which have been released to ASX. A definitive feasibility study (“DFS”) is currently being prepared focussing on the 1Mtpa production case processing Sylvinite ore only and is currently 50% complete.

By way of update to the market, the Company has taken key elements from each of these studies (including the most up to date findings from the DFS) in order to generate a staged development scenario (“Staged Development Model” or “SDM”) commencing at 1Mtpa and expanding to 2Mtpa 2 years subsequent to initial commissioning.

The Company outlines below the current economics of the SDM as the Company considers that this represents an attractive expansion case for Colluli.

To see a copy of the full update click here



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