Verde Discloses Pre-Feasibility Study Results For Cerrado Verde Project

Author: Akanksha Bakshi | May 16, 2022 03:36pm

• 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.

Posted In: AMHPF TSX:NPK