With the DFS completed last year as a starting point, technical experts from WCPL will model and analyse the complete value chain for the project. Using proprietary software, they will generate life-of-mine business plans aimed at maximising economic value of the project. The new plans will also incorporate internally generated improvements to the flowsheet and equipment specifications following ongoing discussions with potential suppliers and specialists. The study is planned to be completed during September.

The study will, among other things, act as an audit and validation of our present DFS and development plan, but will also aim to increase the NPV of the project.

“WCPL has demonstrated repeatedly that the comprehensive application of the “Integrated Strategic Planning” approach is capable of yielding improvements in project net present values (NPV) of between 5% – 35%; and often more in any mine, even when a number of optimisation techniques have already been applied,” says Gerald Whittle, CEO of Whittle Consulting.

NIO has the right to settle Whittle’s remuneration, in whole or part, with a directed issue of shares. Shares will be issued at market price but with SEK 2.5 as a minimum price. The maximum number of new shares that may be issued as a consequence of the transaction is 2 548 000.