The Wuudagu Project is a high-grade, low-silica bauxite near-term bauxite export project that is 100% owned and operated by VBX Limited. Wuudagu is located in Northern Western Australia, approximately 15km to the west of Kalumburu and ~30km from the coast/transhipment export facilities.
Wuudagu has a JORC (2012) Ore Reserve of 59Mt and JORC Mineral Resource of 96Mt. The Reserve has been derived from Plateau C, with the Resource being derived from Plateaus A, B & C. With only 48% of the VBX’s Plateau areas drilled, there is significant potential for an increase in the mineral resource.
VBX is currently completing a feasibility study on the Wuudagu project. Based on the 2025 scoping study, Wuudagu is targeting 3.5mtpa of high-grade, low silica, bauxite over a 10 year life of mine. Mining will be conducted via efficient and cost-effective surface mining operation with a low, 0.2x, strip ratio.
Standard beneficiation is expected to yield a low silica, “Guinea” style product (45.4% Al2O3, 3.6% SiO2) that will attract premium pricing.
VBX’s Scoping Study generated exceptional project economics of A$821million pre-tax NPV8; 136% pre-tax IRR, with first quartile operating costs and low capital intensity (A$125 million).
Apex holds a 1.0% gross revenue royalty over plateaus A, B, C, D, E & F of the Wuudagu project.
The royalty is uncapped and there are no buyback provisions.
|
Mt |
Al2O3% |
SiO2 % |
Fe2O3 % |
LOI % | |
|---|---|---|---|---|---|
| Indicated | |||||
| Plateau C | 63.5 | 39.8% | 13.5% | 22.5% | 19.9% |
| Inferred | |||||
| Plateau A | 8.4 | 35.9% | 14.3% | 28.0% | 17.9% |
| Plateau B | 16.1 | 39.3% | 13.2% | 23.3% | 19.6% |
| Plateau C | 1.2 | 39.5% | 14.1% | 21.6% | 19.6% |
| Plateau CN | 1.2 | 44.5% | 11.7% | 15.7% | 22.6% |
| Plateau CNN | 5.5 | 40.1% | 12.0% | 23.2% | 20.3% |
| Total | 95.9 | 39.4% | 13.4% | 23.1% | 19.7% |
|
Mt |
Al2O3% |
SiO2 % | |
|---|---|---|---|
| Probable | |||
| Plateau C | 59.3 | 40.0% | 13.8% |
1 Per VBX Limited website
