(Cash Pay) Metals Finance Corp expect first Palabora pay out by March - Queensland Business Review
International resources company Metals Finance Corp has announced it would receive its first cash flow from the Palabora nickel project in Northern Transvaal, South Africa by the end of March, with approximately $4 million expected from the operation in its first year. Queensland-based Chief Executive Officer Tony Treasure says the project, which involves the design, installation, commissioning and operation of a nickel recovery plant at the Palabora copper mine, was on schedule for commissioning towards the end of the first quarter of 2008. Treasure says that, based on the current nickel price and projections in a detailed feasibility study, Palabora was expected to provide Metals Finance Corp with cash flow in excess of $400,000 per month until the Company has recouped its development capital. Beyond the first year budget of $4 million, the project would generate approximately $2 million per annum in free cash flow for the company. Find Out More
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