Elementos Banks Tax Refund for Cleveland Tin-copper-tungsten Project

Elementos Limited (ASX:ELT) has banked $320,000 under the Federal Government’s R&D Tax Incentive Scheme, which relates to expenditure at the company's Cleveland tin-copper-tungsten project during FY15.

Cleveland is a large Renison style tin-copper deposit located in Tasmania, with a separate world-class long life tungsten porphyry deposit accessible from the same in-place underground infrastructure.

The three stage development process would commence with: Stage One; tailings re-treatment, Stage Two; open pit mining and Stage Three; underground mining over a total mine life of 15 years.

A PFS estimated a bite-sized total pre-production CAPEX of $21M for Stage One, which would generate cash at today’s prices.

Stage One cash flow would be sufficient to fund Stage Two, which would fund Stage Three.

The process plant will treat a minimum of 650,000t and maximum of 900,000t of tin, copper and tungsten ores that would generate a total of $638M in sales of concentrate and $166M in pre-tax cash flow over 15 years.

Cleveland has significant government and stakeholder support including approvals. A mining lease application has been submitted.


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