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Carnegie potash project, Australia

24th August 2018

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Carnegie potash project.

Location
The project is located within the Carengie lakes system in the shire of Wiluna, in Western Australia.

Client
Carnegie Joint Venture (JV), comprising Kalium Lakes and BCI Minerals.

BCI has earned a 30% interest in the project by sole funding the scoping study. The company can earn a further 10% by sole funding a further A$3.5-million for the prefeasibility study (PFS) and another 10% by spending a further
A$5.5-million on the feasibility study.

Project Description
A scoping study, maiden resource estimate and exploration target have confirmed the project to be a technically and economically viable project.

The study has resulted in an inferred resource of 880 000 t of sulphate of potash (SoP) for Carnegie, based only on the top 1.7 m of the 27 874 ha surficial aquifer on the granted tenement, as well as an exploration target of between 3.46-million and 7.44-million tons SoP within the deeper aquifers.

A further 82 000 ha of lake surface on pending tenements is not included in the current inferred resource and exploration target, providing further resource upside potential.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
Not stated.

Duration
Not stated.

Latest Developments
The JV companies have endorsed proceeding to a staged PFS over the next 12 to 18 months, with an initial focus on securing tenure and access to all required tenements.

Key Contracts and Suppliers
DRA Global, Shawmac, Wyntak and Preston Consulting (principal technical consultants) and RSM, DLA Piper Australia and BurnVoir Corporate Finance (accounting, legal, commercial and financial
advisers).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Kalium Lakes, tel +61 8 9240 3200 or email info@kaliumlakes.com.au.
BCI Minerals, tel +61 8 6311 3400, fax +61 8 6311 3449 or email info@bciminerals.com.au.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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