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Canyon Resources Ltd.
Summary
| Project: | Birsok | |
|---|---|---|
| Deposit: | Minim Martap | |
| Location: | Cameroon | |
| Commodities: | Aluminium-Silica | |
| Date: | 7/2/2020 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-7-2020: Canyon Resources Ltd. announces a Pre-Feasibility Study report for its Minim Martap deposit at the Birsok project. PFS results incl. NPV (10%) of US$291M & IRR of 37%. The Pre-Feasibility Study (PFS) referred to in this announcement has been und | |
| Resources: | (Resource, I+I): 892Mt @ 45.1% Al2O3, 2.8% SiO2 at project total | |
| CP/QP: | [Overall Report] n/a (n/a) | |
| ABSTRACT: | The Pre-Feasibility Study (PFS) referred to in this announcement has been undertaken to determine the potential viability of direct shipping of high quality bauxite ore from the Minim Martap Project in Cameroon through the port of Douala as Stage 1 of a 2-Stage DSO Project where Stage 2 envisions shipping at lower cost and higher rates through the deep water port of Kribi. The PFS is a preliminary technical and economic study of the potential viability of the Minim Martap Bauxite Project. The PFS estimate is costed to an accuracy level of +/- 25% and considered sufficient to support the estimation of Ore Reserves which will be the subject of a subsequent ASX announcement and based on the 5 Mtpa Stage 1 start-up. The estimate of an Ore Reserve is yet to be completed. The PFS is based on the material assumptions outlined in this announcement, including assumptions about the availability of funding. While Canyon considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the PFS will be achieved. To achieve the range of outcomes indicated in the Pre-Feasibility Study, funding of in the order of US$120 million in Project development capital will likely be required. | |
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