I-Minerals Receives Operation and Reclamation Plan Approval
The approval of the ORP, together with the recently received water permit from the Idaho Department of Water Resources ("IDWR") positions the Company to be able to begin construction, subject to financing and certain bonding requirements.
"This is an exceptional achievement for I-Minerals and the result of many months of hard work, by our staff and our environmental engineering consultant HDR Engineering, Inc.," stated Thomas Conway, President and CEO of I-Minerals Inc. "Few exploration companies ever get their projects to the full feasibility stage and those that do often face long permitting challenges, particularly in US jurisdictions.
I-Minerals completed the Feasibility and Permitting tasks in just over two years, which speaks volumes to the quality of our project, our team and the abilities of the permitting agencies to recognize that the Bovill Kaolin Project, which will be a non-metal mine, has less impacts than most mines.
State water quality standards to be maintained at all times during the life of the operation 3.
Obtaining all other necessary permits and approvals from state and federal authorities (e.g. Storm Water Pollution Prevention Plan; air quality, consultation with fisheries and US Army Corp of Engineers 404 Permit and Stream Channel Alteration Permits) as required for each production process.
Based upon the March 2016 Feasibility Study by GBM Engineers, the Bovill Kaolin Project is expected to create 100 jobs in the construction phase and 90 full time jobs over the 25+ year mine life.
A 2016 Feasibility Study on the Bovill Kaolin Deposit led by GBM Engineers LLC, who were responsible for overall project management and the process plant and infrastructure design, including OPEX and CAPEX calculated an After Tax NPV of US$249.8 million with a 25.8% After Tax IRR.
Permitting work with the State of Idaho is well underway.
Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks.
Actual results could differ materially from those projected as a result of the following factors, among others: changes in the world wide price of mineral market conditions, risks inherent in mineral exploration, risk associated with development, construction and mining operations, the uncertainty of future profitability and uncertainty of access to additional capital.