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KGL Resources Ltd.
Summary
| Project: | Jervois | |
|---|---|---|
| Deposit: | Jervois | |
| Location: | Australia | |
| Commodities: | Copper-Silver-Lead-Zinc | |
| Date: | 12/8/2014 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 8-12-2014: KGL Resources Ltd. announces a Pre-Feasibility Study report for its Jervois deposit at the Jervois project. PFS results incl. 2Mtpa over an initial 7 year LOM. KGL Resources is pleased to announce a Pre‐Feasibility Study (PFS) update for KGL’s | |
| Resources: | (Resource, I+I): 23.2Mt @ 1.14% Cu, 18.0g/t Ag and 2.2Mt @ 0.74% Cu, 65.6g/t Ag, 3.87% Pb, 1.65% Zn | |
| CP/QP: | [Overall Report]: Martin Bennett (Internal) | |
| ABSTRACT: | KGL Resources is pleased to announce a Pre‐Feasibility Study (PFS) update for KGL’s 100% owned Jervois copper project in the Northern Territory. The studies show Jervois as a technically and commercially feasible project with strong upside from additional planned drilling and metallurgical work. Simon Milroy, Managing Director of KGL Resources commented “Jervois has been confirmed as a viable mid‐sized, multi‐metal mine. However, the opportunities to add value to the project before proceeding to development are too substantial to ignore. The opportunities at Jervois are demonstrated not only by the PFS to date, but also the continuing flow of exploration results that point to the potential for a larger and more valuable asset. Our declared strategy for Jervois includes attracting an equity partner into the project. It is important therefore that the project be presented in the best possible way to attract such a partner to contribute to the project’s development. We are confident the work program announced today will be important in maximising the value of Jervois to shareholders.” The additional works program is targeting $100m ‐ $200m of additional free cash flow over the life of the project in an optimised pre‐feasibility study. At the completion of this additional work programme, we expect improved economic parameters for the project will have been realised and will be made available to the market. The cost of the additional work programme is estimated at $2.7m and will be funded from existing cash reserves (cash at hand was $12.7M as at the end of September). | |
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