Peter Taylor
Director
Good morning, everybody. Welcome to this webinar from the CEO of ioneer, Mr. Bernard Rowe. I’m very pleased to present this webinar today, and Bernard has got some tremendous news to discuss the project economics upgrade and Rhyolite Ridge. I’m going to hand it over to Bernard. We’ll have time for a few questions at the end. Over to you.
Bernard Rowe
MD, CEO & Executive Director
Yes. Thanks, Peter, and welcome, everybody. Thanks for joining this call. Please read the disclaimer before making any investment decisions, and then we’ll jump into it. So yesterday, ioneer announced a very material upgrade improvement to the economics of the Rhyolite Ridge Project. Rhyolite Ridge is a unique lithium and boron deposit that’s of strategic importance to the United States. It will be a very large and long-life producer of both lithium and boron into that market.
And this is really exciting news with these updated and upgraded economics. The NPV, just to put that into perspective, the NPV of the project has risen by 38% to just under $1.9 billion. That’s roughly equivalent to about AUD 1 per ioneer share in NPV. So it’s a very significant and material upgrade. And I’m going to talk later in this presentation about how we got there. But at the end of the day, we’re producing more lithium and boron and that’s going straight to the bottom line economics with no changes in capital costs required to do that in upfront CapEx.
The ore reserve is 260 million tonnes, and it comprises 3 ore streams. Those 3 ore streams, we blend them together, that gives
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