Located in the SE desert region of California

 

Historic pilot plant operations

 

Colemanite core samples

 

On site pilot plant

 

Substantial historic resource drilling

Introduction

Welcome to the website of American Pacific Borates Limited (ABR). ABR’s Fort Cady Project in California hosts a multi-generational borate resource where boric acid, gypsum and potassium sulfate will be produced for the large North American specialty fertiliser market and new high end technologies like electric vehicles and space shuttles.

ABR delivered an exceptional Definitive Feasibility Study (DFS) in December 2018 and in January 2019 announced an enhancement to include a low capex starter project by splitting Phase One in to Phase One A and Phase One B.

Phase One A will target the production of 40k stpa of SOP (K2SO4) and 6k stpa of boric acid (H3BO3).

Phase One B will increase boric acid production to 90k stpa using learnings from initial 6k stpa operation.

Exceptional financial metrics for starter project (Phase One A) include:

  • Capex of only US$36.8m inclusive of a 13% contingency;
  • C1 Opex for SOP of US$85.89m (C3 Opex of US$143.84m);
  • Unlevered, post tax NPV10 of US$224.7m (A$315m) and IRR of 58.3%; and
  • EBITDA in first full year of production US$26.7m.

Importantly, Phase One A capex of US$36.8m delivers a pathway to the full project targeted EBITDA of US$345m in first full year of operation.

 

Fort Cady Project (Boric Acid and SoP Production)
Phase 1A Only
NPV10 US$224.7 million
IRR 58.3%
EBITDA in first full year of production US$26.7 million
Phase 1A & 1B Only
NPV10 US$385.3 million
IRR 36.4%
EBITDA in first full year of production US$60.3 million
Phase 1 & 2 Only
NPV10 US$853.5 million
IRR 40.0%
EBITDA in first full year of production US$192.3 million
Full Project (Phases 1, 2, & 3)
NPV10 US$1.083 billion
IRR 40.5%
EBITDA in first full year of production US$345.4 million

Latest News

Video

Michael X. Schlumpberger
presenting at the Mining Journal Select conference, London in June 2019