Strong Project Economics Validated
The pre-feasibility study for Phase 1 confirms a 39.5-year mine life with a robust after-tax NPV of $725 million and a 19% project IRR.
Successful Customer Qualification
High-purity boric acid has been qualified with 14 customers across multiple segments, advancing to full-scale production testing with a Tier 1 specialty glass manufacturer.
Significant Financing Progress
Received a nonbinding LOI from USXM for a potential $285 million project debt facility, advancing towards securing funding for Phase 1 construction.
Milestone in Logistics and Handling
Completed a full logistics and handling trial, shipping 2 tons of product successfully from California to Taiwan, passing all on-site handling tests.