The table above indicates change in the assumptions ranges (both up and down) for both operating costs (USD/T) and graphite sales price (USD/T) with the associated impact on the IRR and NPV as calculated by the high level financial viability model.
A key point to note is that the calculated project sensitivity IRRs & NPVs are not very sensitive to reasonable changes in the underlying assumptions, compared to other similar operations indicating the robust nature of the project based on the current level of assumptions.
The information pertaining to the high level financial analysis and relating to the PEA has been reviewed by Mr. Robert Futter of Cresco Project Finance and is deemed to be a true reflection of the financial indicators derived from the PEA level study.
The sensitivity table detailed above is for indication purposes based on the level of the capex and operating cost estimates considered in the PEA study. Other non-mining related operating costs or other overhead expenses have not been determined at this stage but will be confirmed during the Bankable feasibility based on appropriateness for a Project in Madagascar.
Energizer Closes $2.35 Million Financing
The Company has closed a CAD$2,358,000 non-brokered private placement by issuing 12,350,000 Common Shares.
In connection with the closing, Energizer paid compensation consisting of a cash fee of CAD$86,000 and issued 270,000 broker warrants. Each broker warrant entitles the holder to acquire one Common Share of Energizer at a price of CAD$0.20 for a period of 12 months from the date of issue.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
All securities issued in connection with the Offering will also be subject to a four-month hold period from the date of issuance as required by Canadian authorities and a six month hold period as required by U.S. authorities. Completion of the Offering remains subject to final approval of the applicable regulatory authorities, including the Toronto Stock Exchange.
About Energizer Resources
Energizer Resources Inc. is a mineral exploration and development company based in Toronto, Canada, which is focused on developing the Molo flaked graphite deposit in Fotodrevo, southern Madagascar. The Molo deposit is located in the Green Giant Graphite project, and is part of the joint venture (JV) property with Malagasy Minerals Limited in Madagascar. Energizer has a 75% ownership interest and is the operator of the Project.
For more information, please visit our website at www.energizerresources.com.
Safe Harbour: This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
Energizer Resources Inc.
Senior Vice President, Corporate Development
Toll Free: 800.818.5442 or 416.364.4911
Energizer Resources Inc.
President and COO
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