Key points
- Post-tax NPV of US$243 million for a single IONSolv module
- Annual EBITDA of US$62 million on revenue of US$122 million
- Development capital of US$11.9 million
- Approximately 630 tpa of rare earth oxide product
- Evaluation supports planned first commercial module in Oklahoma
Full summary
Iondrive Ltd has released an updated evaluation of its IONSolv process for recovering rare earth elements from end-of-life permanent magnets. The evaluation indicates a post-tax Net Present Value (NPV) of US$243 million for a single 2,400 tpa module in the United States, with a pre-tax NPV of US$348 million. The model predicts an annual EBITDA of US$62.1 million on revenue of US$121.8 million, yielding an EBITDA margin of 51.0%. Development capital is estimated at US$11.9 million, with sustaining capital of US$6.0 million over ten years. The module is expected to produce approximately 630 tpa of rare earth oxide, with significant portions being neodymium, praseodymium, and dysprosium oxide. The evaluation is based on several key assumptions, including feedstock grade and pricing, which remain subject to qualification and commercial agreements.
Guidance
Post-tax NPV US$243m, Annual EBITDA US$62m, Development capital US$11.9m
Outlook
Iondrive plans to complete front-end engineering design, refine cost estimates, and advance site selection and feedstock supply arrangements to support a final investment decision.