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OZ Minerals Ltd.
Summary
| Project: | Carrapateena | |
|---|---|---|
| Deposit: | Carrapateena | |
| Location: | Australia | |
| Commodities: | Copper-Gold | |
| Date: | 2/26/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 26-2-2016: OZ Minerals Ltd. announces a Scoping Study report for its Carrapateena deposit at the Carrapateena project. Scoping study results incl. base case NPV (9.5%) of over A$600M, IRR of over 20%. A 2.8Mtpa mine using sub-level caving (SLC), on-site | |
| Resources: | (Resource, I+I): 800Mt @ 0.8% Cu, 0.4g/t Au | |
| CP/QP: | [Resources]: Stuart Masters (Not stated) | |
| ABSTRACT: | A 2.8Mtpa mine using sub-level caving (SLC), on-site processing, hydromet and single decline, will be taken forward as the new base case into a Prefeasibility Study (PFS) utilising the extensive work previously completed This new base case has robust financial metrics o NPV9.5 over A$600M and IRR of over 20% (at consensus pricing) o Estimated production for the first 3 full years of 55kt Cu and 58koz Au per annum; with LOM 40kt Cu and 38koz Au per annum o Mine life of more than 20 years o Project cost of circa A$770M (including hydromet and study costs) o C1 costs of US$0.70/lb (first 5 years), with LOM C1 costs of US$1.00/lb o Expected payback of 5 years (at consensus pricing) o Average annual cash flow over A$150M (at consensus pricing) with operating cash in 2019 o Detailed scoping study has accuracy of -5% to +20% Ability to fund from existing cash and expected cash flow from Prominent Hill Lower risk mining method compared to other options with clear ability to expand into larger resource Sensitivities demonstrate project robustness. Flat spot pricing over the life of the mine yields positive financials with NPV9.5 over A$55M and IRR of over 10% Work to cease on all block cave mining options | |
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