KEY RESTART HIGHLIGHTS
- Updated and improved PEA NPV of estimated US$86.7 million with highly attractive internal rate of return of 98.6%.
- Forecast open pit production of approximately 4,000 tonnes of copper per annum, at an average C1 cash cost of US$1.32/CuEq tonne over the life of mine of Kombat.
- Upgraded NI 43-101 Mineral Resource estimate for the open pit portion of the Kombat Mine of 1.529 million tonnes of Indicated Mineral Resources at a grade of 1.14% copper, 0.72% lead and 2.88 g/t silver and 1.654 million tonnes of Inferred Mineral Resources at a grade of 1.38% copper, 1.82% lead and 2.12 g/t silver.
- Increase in NI 43-101 Mineral Resource estimate for the underground portion of the Kombat Mine to 3.929 million tonnes of Inferred Mineral Resources at a grade of 3.72% copper, 1.03% lead and 31.29 g/t silver.
- Environmental Impact Assessment completed for stakeholder comments and application for environmental permitting to be made in February 2018.
- Feasibility study to be completed by May 2018.
- Fulfilment of conditions precedent to close the second tranche of the previously announced private placement for gross proceeds of $1,500,000.