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  • Liberty Resources MD Andrew Haythorpe Exercises Options 0 comments
    Apr 12, 2013 12:40 AM

    Liberty Resources managing director Andrew Haythorpe has exercised options in the company, acquiring 375,000 shares at A$0.05 each for a total consideration of $18,750.

    He now holds around 35.6 million shares in Liberty, giving him a 12.74% interest.

    Liberty is developing an unconventional gas project in Australia that will convert un-mineable coal into pipeline quality gas, which can then be value added by producing low cost ammonia and urea fertiliser.

    The company has identified unconventional in-situ Syngas resource potential of 9,300 PJ equivalent within its Central Queensland tenements that are amenable to its enhanced, in situ coal gasification.

    Liberty is proceeding with a two stage development program that will produce low cost Syngas from resources at the Victus project area at an estimated cost of $1.5 billion, and a second stage fertiliser project at a cost of $2.3 billion.

    Early technical studies indicate a robust return of 22% per year on sales of pipeline quality gas from the intermediate stage gas plant.

    This significantly de-risks the project, cuts the developmental timeline, and capitalises on the current boom for local gas needs and supply for LNG for export.

    Technical studies on the second stage fertiliser project indicate that, with a life that exceeds 50 years, it is capable of producing 2 million tonnes per annum of urea, and produces a current Net Asset Value that falls into a range of $0.28 to $2.28 per share, and free cash flow exceeding half a billion dollars per year.

    Liberty has already secured a Letter of Intent with Marubeni of Japan, and is proceeding with studies for production of 1 million tonnes of urea and 1 million tonnes of ammonia per year for a term of 25 years.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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