Proyecto Touro Pre-feasibility Study

NICOSIA, CYPRUS (FSCwire) - for a proposed copper open pit mine and concentrator at its Proyecto Touro in north west Spain.

Highlights

Strong Project Economics

·     NPV post-tax at 8% discount rate of $180 million using long term copper price of US3.00/lb

·     Unlevered IRR of 20.5%

·     Total free cash flow of $489 million

·     Annual average free cash flow of $60m from commercial production

Low cost Operations

·     Estimated average C1 cash costs of US$1.73/lb of payable Cu net of silver credits

·     All-in sustaining costs ("AISC") of US$1.85/lb of payable Cu net of silver credits

Capital Costs and Infrastructure

·     Pre-production capital expenditure of $165 million with an additional expansion capital estimate of $30 million in year eight

·     Low LOM sustaining capital expenditure of $55 million

Project Parameters

·     Contained copper, within P&P reserves only, is estimated at 392,000 tonnes and 2.1 million ounces of silver

·     2 years of development and 12 years of operation

·     Average yearly production of 30,000 tonnes copper and 70,000 ounces of silver in concentrate

·     Shallow open pit mining with low waste-to-ore ratio of 2.43

·     Very clean high-grade copper concentrates

Click on, or paste the following link into your web browser, to view the associated PDF document. 

http://www.rns-pdf.londonstockexchange.com/rns/6944L_1-2018-4-20.pdf

To view the original release, please click here

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