Verde Discloses Pre-Feasibility Study Results For Cerrado Verde Project

Verde AgriTech Plc NPK 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.