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Anglesey Mining Plc
Summary
| Project: | Parys Mountain mine | |
|---|---|---|
| Deposit: | Parys Mountain mine | |
| Location: | United Kingdom | |
| Commodities: | Zinc-Lead-Copper-Silver-Gold | |
| Date: | 7/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 24-7-2017: Anglesey Mining Plc announces a Scoping Study report for its Parys Mountain mine deposit at the Parys Mountain mine project. Scoping study results incl. pre-tax NPV(8%) of $41.0M, IRR of 28.3%, LOM of 8yrs. Anglesey Mining plc (“Anglesey” or th | |
| Resources: | (Resource): 2.1Mt @ 6.9% base metals (Ind.) and 4.1Mt @ 5.0% base metals (Inf.) at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Anglesey Mining plc (“Anglesey” or the “Company”) is pleased to report, in summary, the results of its recently completed 2017 Scoping Study on its wholly owned Parys Mountain copper-lead-zinc project in North Wales.The Scoping Study was prepared by Micon International Limited (Micon) and Fairport Engineering Ltd (Fairport).The selected base case envisages a mining rate of 1,000 tonnes per day, to produce an average annual output of 14,000 tonnes of zinc concentrate at 57% Zn, 7,200 tonnes of lead concentrate at 52% Pb and 4,000 tonnes of copper concentrate at 25% Cu, annually, over an initial mine life of eight years.The overall net smelter return (NSR) for the three concentrates, including the silver and gold precious metals contributions, is expected to total more than $270 million at the forecast metal prices used for the base case models. Bill Hooley, Chief Executive commented “We are very pleased with the results of the Scoping Study which demonstrate a viable mine development at Parys Mountain and a healthy financial internal rate of return. The base case economic model at 1,000 tonnes per day indicates a robust project at consensus forecasts for the long-term prices of zinc and copper. This is the first detailed economic study of the Parys Mountain project for a number of years and, based on the current availability of reconditioned process plant, the estimated pre-production capital cost for the project is at a level that could be financeable.” | |
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