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Westwater's optimization study for Coosa graphite project ups value, cuts CapEx

Westwater Resources Inc. completed an initial optimization study and developed a new business plan for the Coosa graphite project in Alabama, owned by its acquisition target Alabama Graphite Corp.

The revision increased the net present value, discounted at 8%, to US$490 million, from US$444 million in the 2015 preliminary economic assessment, according to the March 1 release.

The initial capital expenditures were cut to US$30.0 million, from US$43.4 million. The mining operations can be deferred until 2026, with initial mine capital expenditures funded by internal cash flow.

The schedule for the start of advanced revenues has been pulled back to 2020, from 2022, while advanced positive cash flows are now expected in 2021, from 2022.

Processing will kick off in 2020 with the production of purified micronized graphite, high margin processing of delaminated expanded graphite will begin in 2021, and processing of coated spherical purified graphite will start in 2023.