The revised PFS includes revised and improved estimates of both capital and operating costs.
The initial start-up capital expenditures are estimated at $334.1m and the life-of-mine capital cost for the project is estimated at $404.2m.
Rare Element president and CEO Randall Scott said the PFS was designed to provide a preliminary engineering and economic assessment of the viability of the Bear Lodge Project and, more specifically, the Bull Hill rare-earth element open-pit mine, and these revised results continue to demonstrate the strong economics of this project to produce a bulk mixed RE carbonate concentrate."
Some of the highlights of the PFS include a nineteen year mine life based on mineable mineral reserves of 5.7M tons at an average grade of 3.6% TREO with average metallurgical recovery rate of 81.4%.
Definitive feasibility study is starting in the second quarter of 2012 with a mid-year 2013 planned completion date.
