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LeadFX Inc.
Summary
| Project: | Paroo Station Mine | |
|---|---|---|
| Deposit: | Paroo Station Mine | |
| Location: | Australia | |
| Commodities: | Lead | |
| Date: | 2/19/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 19-2-2019: LeadFX Inc. announces a Feasibility Study report for its Paroo Station Mine deposit at the Paroo Station Mine project. Updated DFS results and updated resources and reserves at the project. PERTH, AUSTRALIA, February 19, 2019 – LeadFX Inc. ("Le | |
| Resources: | (Reserve, P+P): 36.3Mt @ 3.7% Pb for 1352.5Kt Pb contained | |
| CP/QP: | [Resources]: Kahan Cervoj, Lawrie Gillett, Adrian Jones (Optiro Pty Ltd.) | |
| ABSTRACT: | PERTH, AUSTRALIA, February 19, 2019 – LeadFX Inc. ("LeadFX" or the "Company") (TSX: LFX) advises that SNC-Lavalin Australia Pty Ltd has updated the previously announced Paroo Station Lead Mine (the “Mine”) definitive feasibility study dated February 28, 2018 (the “Original DFS”) to incorporate the results of engineering work and a demonstration plant program undertaken in 2018 and 2019 (the “DFS Update”). The DFS Update has concluded that the proposed modifications to the existing flotation concentrator and the new hydrometallurgical facility flowsheet can produce 99.99% purity lead metal at a nominal rate of 70,000tpa, with design capacity to achieve 80,000tpa at an average cost of $1,276/t Pb1 ($0.58/lb Pb) which accords with the Original DFS. The life of the Mine, based on Proven and Probable2 Ore Reserves, has been extended to 17 years (from the 15 years announced in the Original DFS) as a result of including the Ore Reserves at the Pizarro deposit, located 10km to the south of the mine-site, in the life of mine plan. Total capital cost estimate for the proposed flotation concentrator modifications, hydrometallurgical facility and owners’ costs has increased by $28.3M from the Original DFS due to a number of flowsheet scope changes and application of different materials of construction. The proposed concentrator modifications will increase ore throughput capacity to 2.185Mtpa. Included in the Original DFS was an allowance of $21.8M for a new 18MW power plant on site. The Company has elected to source power generation from a third party provider who would build, own and operate the power plant on site and charge the project power ‘over the fence’. The DFS Update estimates the total funding requirement to first production (before costs of finance and fees and the repayment of outstanding indebtedness) at $183.7M, an increase of $6.5M from the estimate previously reported in the Original DFS. The project net present value at a spot price of $2,040/t and a long term lead price of $2,350/t Pb3 (applying a discount rate of 8.25% post tax) is estimated at $184M - $257M with an internal rate of return estimated at 24.6% at the long term lead price assumption. | |
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