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Benzinga
Benzinga
Business
Akanksha Bakshi

Verde Discloses Pre-Feasibility Study Results For Cerrado Verde Project

Verde (Organization) TSX Board of Directors Special Committee
  • Verde AgriTech Plc (TSX:NPK) (OTCQB:AMHPF) announces the results of the Pre-Feasibility Study for the Cerrado Verde Project, which replaces the December 2017 Pre-Feasibility Study.
  • Verde operates Plant 1 with a capacity of 0.6 million tonnes per year (Mtpy), Plant 2 is set to open in Q3 2022 with an additional capacity of 2.4Mtpy, and Plant 3 is expected to open in 2023 with a capacity of 10Mtpy.
  • The study estimates plant 3's CAPEX at $52.77 million. Plant 3's post-tax net present value is projected at $2.91 billion.
  • The company expects the capex for Plant 3 to be covered by accumulated cash flow generated by sales up to Q2 2023, without need for equity or debt financing.
  • As announced earlier, the company's Special Committee of the Board of Directors is concluding work on the Paid for Growth strategy.
  • Price Action: NPK shares are trading higher by 15.80% at C$9.50 on TSX, and AMHPF is higher by 17.74% at $7.50 on the last check Monday.
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