Legend

Paradise Phosphate Feasibility Study

LEGEND INTERNATIONAL HOLDINGS INC ANNOUNCES POSITIVE AND ROBUST RESULTS FROM WENGFU'S FEASIBILITY STUDY FOR LEGEND'S PARADISE PHOSPHATE PROJECT

Legend International Holdings is pleased to announce positive and robust results from the recently completed feasibility study for Legend's Paradise Phosphate Project conducted by Wengfu Group Ltd of China ("Wengfu"). The results of the feasibility study have confirmed that development of the project is technically and economically viable. The financial model is robust across a number of market scenarios and Legend management believe that studies currently being conducted on project expansion will add significant further value.

Highlights include:

- Paradise Phosphate Project Feasibility Study completed on schedule confirming the technical and financial viability of the base case development scenario
- US$11 billion total revenue over 30 years
- US$2.6 billion total free cash flow after tax and capital
- Pre-tax IRR of 25.5%
- Pre-tax NPV of US$1.5 billion
- Average annual EBITDA of US$151 million of US$1.5 billion.
- Average annual free cash flow after tax of US$113 million
- US$210 DAP cash operating margin for 600ktpa production
- Significant revenue boost of US$28.55 million per year from sale of aluminium fluoride by-product
- Total capital cost of US$808.16 million (includes working capital)
- Capital payback period of 5 years

Please see the Legend Phosphate Project Feasibility Study Presentation, recent Legend Phosphate Project Update (8K) and the related video and audio presentations for complete information on the study.

For more information on Wengfu Group please see our partnerships page.

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