Negotiations with a group of potential lenders, including the Federal Government's Northern Australia Infrastructure Facility (NAIF) are advancing.
As part of this process,
Coburn is one of the largest and most capital-efficient mineral sands projects in the world, with an exceptional zircon-titanium product suite, low costs and ability to generate strong financial returns. It is situated in the wellestablished mining jurisdiction of
In conjunction with financing activities, Strandline is working with engineering and contracting firms on the major procurement and construction packages. The early works site surveying and detailed design of the bulk earthworks and main access road packages have already been awarded.
Strandline has entered into an exclusive period with the Woodside-EDL Joint Venture (WEJV) as the preferred power provider for Coburn, based on the development of an innovative hybrid gas and renewable energy solution. Contract documentation and refinement of WEJV's technical solution is well underway.
Tenders have been received for several major construction packages, including the process plant infrastructure, with early indications that prices will be in line with DFS capital estimates. The Company is also well advanced in negotiations with global counterparties for offtake agreements for all of Coburn's products.
A critical element of the Project is the Company's approach and long-term commitment to regional socioeconomic benefits, indigenous and stakeholder engagement and Australian Industry Participation. This work is ramping-up as the project moves closer to implementation.
Coburn's long life and location has strategic appeal and importantly, its products of zircon, titanium and monazite containing rare earths are classified as Critical Minerals and are considered vital to the economic wellbeing of the world's major and emerging economies.
Given the supply risks associated with geological scarcity, geopolitical issues, trade policy and other factors, Coburn is a particularly valuable asset. Strandline Managing Director
'The project is development-ready and has access to existing key infrastructure. When this is combined with a Board and a management team with a strong track record of developing projects of a similar scale, it is clear that Strandline is positioning for a phase of rapid growth.
'We are delighted with the initial feedback from lenders, contractors and potential customers and look forward to finalising all these arrangements so that construction can commence.'
ABOUT SRK CONSULTING
ABOUT STRANDLINE
Strandline's project portfolio contains high quality assets which offer a range of development options and timelines, geographic diversity and scalability. They include two zircon-titanium rich, 'development ready' projects, being the
Contact:
Tel: +61 8 9226 3130
Email: enquiries@strandline.com.au
FORWARD LOOKING STATEMENTS
This report contains certain forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside of the control of Strandline. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay, approvals and cost estimates. Actual values, results or events may be materially different to those contained in this announcement. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this announcement reflect the views of Strandline only at the date of this announcement. Subject to any continuing obligations under applicable laws and ASX Listing Rules, Strandline does not undertake any obligation to update or revise any information or any of the forward looking statements in this announcement to reflect changes in events, conditions or circumstances on which any forward looking statements is based.
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