The mine life has increased 20% to 24 years and the project’s post-tax net present valuation (NPV) has increased 9.4% to US$197 million.
The construction schedule is dependent upon adequate pre-production funding being secured.
The current schedule has not been modified on the basis that commissioning can be realised 9 to 12 months after project-start funding has been received.
READ: Walkabout Resources increases graphite reserve grade to 17.9%, highest-grade mineable reserve in East Africa
Walkabout’s executive director Allan Mulligan said: “We are delighted with the results of the DFS which demonstrate that the extraordinary Lindi Jumbo project continues to deliver compelling economics in spite of conservative sales assumptions.
“We have a high degree of confidence in the revised cost estimates which are derived from actual engineering drawings and negotiated contract prices.
“This mine has been designed to withstand potential start-up and ongoing risks.
“It continues to show outstanding economics with a payback period of less than two years. These factors make the Project attractive to potential funding partners and investors.”