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Galena Mining Ltd.
Summary
| Project: | Abra | |
|---|---|---|
| Deposit: | Abra | |
| Location: | Australia | |
| Commodities: | Lead-Silver | |
| Date: | 7/22/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-7-2019: Galena Mining Ltd. announces a Feasibility Study report for its Abra deposit at the Abra project. Feasibility study results incl. pre-tax NPV(8%) of A$553M, IRR of 39%. GALENA MINING LTD. ("Galena" or the “Company”) (ASX: G1A) announces complet | |
| Resources: | (Reserve, Prob.): 10.3Mt @ 8.8% Lead, 24g/t Ag | |
| CP/QP: | [Resources]: Don Maclean, Mark Drabble (Internal;Optiro Pty Ltd.) | |
| ABSTRACT: | GALENA MINING LTD. ("Galena" or the “Company”) (ASX: G1A) announces completion of a bankable / definitive feasibility study (“FS”) for its Abra Base Metals Project (“Abra” or the “Project”), located in the Gascoyne region of Western Australia. The FS results confirm outstanding project metrics and provide a higher level of confidence with respect to engineering design, construction requirements, project finance and risk assessments. The FS shows an improvement in most key metrics compared to the Abra pre-feasibility study (“PFS”) completed in September 2018 (see Galena ASX announcement of 25 September 2018). The FS pre-tax net present value (“NPV”) of A$553M is A$25M (5%) higher than the PFS outcome. Managing Director, Alex Molyneux commented, “I’m very pleased that Abra has now completed FS-level technical and engineering work, with the Project continuing to demonstrate sector-leading financial returns with a pre-tax NPV of A$553M.” Managing Director, Alex Molyneux went on to say, “It’s also important to have completed the study on time given that it is a milestone to moving through the final phase of the project financing debt process, which is well underway.” | |
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