Sunkar Resources shares rocket on feasibility study

Shares in mining group Sunkar Resources leapt almost 180 per cent on Thursday after a feasibility study on its Chilisai Phosphate Project estimated an internal rate of return of 17.2 per cent before tax.

Shares in mining group Sunkar Resources leapt almost 180 per cent on Thursday after a feasibility study on its Chilisai Phosphate Project estimated an internal rate of return of 17.2 per cent before tax.

Discounted at 10%, the net prsent value of the project is estimated to be $715.2m, with estimated earnings before interest, tax, depreciation and amortisation (EBITDA) of $278m per annum in 2017 and $533m by 2025.

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