Brazilian Rare Earths Says Scoping Study Confirms Potential of Brazil Project; Shares Up 7%
MT Newswires Live
Dec 11
Brazilian Rare Earths' (ASX:BRE) scoping study for the Amargosa project in Brazil confirmed that it has potential to be a large-scale direct-ship bauxite project with strong economic returns, according to a Thursday filing with the Australian bourse.
The project is expected to generate average earnings before interest, taxes, depreciation, and amortization of $102 million per annum as well as free cash flow of $84 million per annum over 17 years, the filing said.
The study also found a "significant" opportunity for production growth beyond the initial 5 million tonne per annum operation, per the filing.
Shares rose 7% in midday trade on Thursday.
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