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New Century Resources Ltd.
Summary
| Project: | Century Mine | |
|---|---|---|
| Deposit: | Century Tailings | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 11/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 28-11-2017: New Century Resources Ltd. announces a Feasibility Study report for its Century Tailings deposit at the Century Mine project. Feasibility study results incl. NPV(8%) $A1.729B, IRR post -tax 350%. New Century Resources Limited (Company or New C | |
| Resources: | (Reserve, Prov.): 77.3Mt @ 3% Zn, 12g/t Ag at project | |
| CP/QP: | [Overall Report]: Shyam Sunder (MEC Mining Pty Ltd.) | |
| ABSTRACT: | New Century Resources Limited (Company or New Century) (ASX:NCZ) is pleased to announce the results of the Restart Feasibility Study (RFS) for the Century Zinc Mine in Queensland. The RFS, completed by Sedgman Pty Ltd (A member of the CIMIC Group) (Sedgman) in collaboration with New Century Resources, included detailed economic analysis on a large scale tailings reprocessing operation utilising the significant existing infrastructure located on site at the Century Zinc Mine. Based on the proposed production profile, New Century estimates Century will again be one of the top 10 zinc operations in the world, with steady state production forecasted at 507,000tpa of zinc concentrate at 52% zinc (264,000tpa zinc metal) over an initial 6.3 year mine life from the Century Tailings Deposit only. The Company considers the restart of Century on Tailings has outstanding commercial fundamentals, generating over A$1,760 million in free cashflow over the initial tailings operations of 6.3 years. The projected NPV8 of the project (post tax) is A$1,308 million with an IRR of 270%. All base case financial analyses were performed at a long term zinc price assumption of US$1.25/lb (US$2,755/t), which is based on the Bloomberg consensus median forecasts from independent analysts for 2018. This assumption is approximately 17% lower than current zinc price of US$1.46/lb (US$3,220/t). Sensitivity and scenario analysis have also been performed on the most influential variables for the proposed operations. The results of these analyses demonstrate the operations will be most sensitive to fluctuations in the zinc price, foreign exchange rate and metallurgical recovery. | |
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