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Nzuri Copper Ltd.
Summary
| Project: | Kalongwe | |
|---|---|---|
| Deposit: | Kalongwe | |
| Location: | Congo | |
| Commodities: | Copper-Cobalt | |
| Date: | 10/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-10-2017: Nzuri Copper Ltd. announces a Feasibility Study report for its Kalongwe deposit at the Kalongwe project. Feasibility Study returns NPV US$116M (10%), IRR 71% pre-tax, Initial Ore reserve. Nzuri Copper Limited (ASX: NZC) (Nzuri or the Company) | |
| Resources: | (Reserve, P+P): 6.98Mt @ 3.03% Cu, 0.36% Co at Kalongwe | |
| CP/QP: | [Overall Report]: Ross Cheyne (Orelogy Pty Ltd.) | |
| ABSTRACT: | Nzuri Copper Limited (ASX: NZC) (Nzuri or the Company) is pleased to advise that the Feasibility Study (FS) for the proposed Stage 1 development of its flagship 85%-owned Kalongwe Copper-Cobalt Project (Kalongwe or Project), located in the Kolwezi region of the Democratic Republic of Congo (DRC), has been completed, with the results confirming the Project’s strong financial and technical merits and highlighting the potential for a rapid pathway to production and cash-flow. The FS includes a maiden Ore Reserve estimate for Kalongwe of 6.98Mt at 3.03% Cu and 0.36% cobalt for 211,494t of contained copper and 25,128t of contained cobalt. All production targets and forecast financial information in this announcement are underpinned 100% by Ore Reserves. The FS has been completed to +15% accuracy and confirms the technical and financial viability of an open pit mining operation utilising an on-site 1Mtpa Dense Media Separation (DMS) processing plant to produce two high-quality dry saleable concentrate products suitable as a feedstock for off-site SX-EW processing. The Project is forecast to produce 143,000tpa of DMS & Spiral concentrate products, equivalent to annual average metal production of 19,360t of copper and 1,507t of cobalt. C1 operating costs are forecast at US$1.35/lb of payable copper production, including by-product credits. The overall economics of the Project are very robust and value-accretive, with the FS assuming transportation of concentrate 377km by road to Lubumbashi. | |
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