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Highlands Pacific Ltd.
Summary
| Project: | Frieda River | |
|---|---|---|
| Deposit: | Frieda River | |
| Location: | Papua New Guinea | |
| Commodities: | Copper-Gold | |
| Date: | 12/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 10-12-2018: Highlands Pacific Ltd. announces a Feasibility Study report for its Frieda River deposit at the Frieda River project. Feasibility study results incl. post-tax NPV of US $1845M (8%), IRR of 11%, 33yr LOM at the project. Highlands Pacific Limite | |
| Resources: | (Reserve, P+P): 1365Mt @ 0.46% Cu, 0.25g/t Au | |
| CP/QP: | [Resources]: Shaun Versace (PanAust Ltd.) | |
| ABSTRACT: | Highlands Pacific Limited (ASX:HIG) has received a feasibility study for the Frieda River Copper-Gold Project in Papua New Guinea from the project manager PanAust Limited, a wholly-owned subsidiary of Guangdong Rising Assets Management Co Ltd (GRAM). Highlands holds a 20% interest in the Frieda River joint venture, with PanAust holding 80%. The feasibility study follows a consultative process, field work program and extensive review of PanAust’s previous development plan which was outlined in its May 2016 feasibility study, which was subsequently updated in an addendum in March 2017. The 2018 feasibility study adopts a fundamentally different approach to the project, considering the Frieda River Copper-Gold Project within a broader regional development context and requiring extensive third party or government investment in regional infrastructure as a prerequisite. Highlands Pacific Managing Director Craig Lennon said the feasibility study represented a further step towards unlocking the value of the giant Frieda River project. “A great deal of work has gone into the preparation of this visionary and ambitious development concept, aimed at overcoming some of the many logistical challenges associated with construction of a project of this scale in one of the more remote regions of Papua New Guinea.” “The project, as currently proposed by PanAust, faces significant hurdles, not least of which is the substantial capital cost, but also the need to identify government and other third parties to develop and fund the roads and other regional infrastructure required as a pre-requisite to construction of the project.” “The Frieda River project has the potential to generate major economic benefits for Papua New Guinea, for the communities in the region, the participants in the project and the shareholders of Highlands Pacific, and we will be seeking to work with PanAust and the other stakeholders to further refine the project and improve returns where possible,” he said. | |
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