5E Advanced Metals publishes Fort Cady Project pre-feasibility technical report

5E Advanced Materials announced the completion of the Preliminary Feasibility Study for the Company’s Fort Cady Project located in the Mojave Desert, near the town of Newberry Springs, California. The Project underpins 5E’s strategy to become a vertically integrated global supplier of critical and industrial materials through in-situ extraction of colemanite, from which the Company intends to produce boron and calcium-based products which will support global electrification, energy, food security, and critical defense applications. Highlights of the Pre-Feasibility Study: Technical Report is specifically focused on Phase 1 of the Project, converting 41% of the resource into 5.4M tons of boric acid reserves yielding 39.5-year life of mine; Total Mineral Reserves of 5.4M tons boric acid with grade of 8.03%; Technical Report ONLY includes Phase 1 production and presents robust economics with forecasted pre-tax net present value of US$724.8 million and 19.2% unlevered IRR; Project retains optionality for future expansion phases of additional production tonnage and value-added boron derivatives; The initial Phase 1 plant targets delivery of 130,000 tons per year of boric acid production, approximately ~11% of global boric acid demand today; Mining permits in place with the colemanite reserve mined using an in-situ leaching method, thereby minimizing the surface land disturbance required for the Project facilities; The expected initial project capital cost is US$367M for Phase 1 plus US$55M contingency and US$13M of owner’s cost; By-product mix includes calcium chloride and gypsum with expected all-in sustaining cash of US$554.80 per ton of boric acid; Market study indicates tight supply with demand forecasted to exceed supply in 2026 driving boric acid prices higher; Revenue from production will primarily be derived from boric acid sales, approximately 94% of total revenue, while by-products of calcium chloride and gypsum will provide approximately 6% of total revenue