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Myanmar Metals Ltd.
Summary
| Project: | Bawdwin | |
|---|---|---|
| Deposit: | Bawdwin | |
| Location: | Myanmar | |
| Commodities: | Lead-Zinc-Silver-Copper-Cobalt-Nickel | |
| Date: | 9/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 14-9-2018: Myanmar Metals Ltd. announces a Scoping Study report for its Bawdwin deposit at the Bawdwin project. Scoping study results incl. initial pit design and 13yr initial LOM at project . Myanmar Metals Limited (“MYL” or “the Company”) is pleased to | |
| Resources: | (Resource, I+I): 81.797Mt @ 4.8% Pb, 2.4% Zn, 0.24% Cu, 119ppm Ag | |
| CP/QP: | [Resources]: Serikjan Urbisinov (CSA Global Pty Ltd.) | |
| ABSTRACT: | Myanmar Metals Limited (“MYL” or “the Company”) is pleased to report that it has completed a Scoping Study based on the Indicated and Inferred resources from the China Lode of the Bawdwin Project in Myanmar. The China Pit Scoping Study (“Scoping Study”) has been prepared by CSA Global Pty Ltd (“CSA”) with input from the Company and reputable industry consultants. The Scoping Study outlines a technically and financially viable project based on assumptions adopted for the purpose of this study. The China Pit Scoping Study does not include 60.9Mt of Indicated and Inferred resources from the China Lode (outside the pit shell) and from the Shan and Meingtha Lodes. The Company notes that all three currently defined lodes are open at depth and along strike and are the subject of current and planned drilling programs. Over 100 years of documented mining (both underground and open pit) of the Bawdwin mineralisation provides a good understanding of the geometry and continuity of the mineralised lodes. Revenue, operating earnings, NPV, IRR, payback period and other financial metrics have not been presented in this announcement. The Company’s Directors have taken a conservative approach, in consideration of the Scoping Study level of this analysis. Information presented in this announcement including mining physicals data, capital and operating costs, metals prices, metallurgical recoveries, grade and payability (see Appendix 1), allow investors to form their own view on the reasonableness of the underlying assumptions used for the purposes of the Scoping Study. John Lamb, Executive Chairman and CEO, stated: “The China Pit is the opening move in bringing the Bawdwin polymetallic province back into production. We believe the China Pit will be the first of at least 3 pits on the Bawdwin Concession, followed by a long-life underground mining operation. Economic estimates from the China Pit Scoping Study are underpinned by 21 Mt of mineable material, representing only 26% of total project resources. The role of a starter pit is to provide an early cashflow to fund life-of-mine infrastructure and the development of a pipeline of future mines. As a result, the economics of the China Pit bear a majority of the capital expenditure required for the full development of the Bawdwin province including: processing and flotation facilities, a tailings facility, the restoration of power infrastructure, road upgrades and other civil infrastructure. In the 1930’s, Bawdwin was amongst the largest and richest lead and silver mines in the world. We are confident the Bawdwin JV’s re-development program will restore Bawdwin to its position as a leading base and precious metals mine.” | |
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