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Orion Minerals Ltd.
Summary
| Project: | Prieska | |
|---|---|---|
| Deposit: | Prieska | |
| Location: | South Africa | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 12/19/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-12-2018: Orion Minerals Ltd. announces a Scoping Study report for its Prieska deposit at the Prieska project. Scoping Study results incl. pre-tax NPV of AUD $400-440M (12.5%), IRR of 38%, 10yr LOM. Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) i | |
| Resources: | (Resource, I+I): 28.726Mt @ 3.77% Zn, 1.16% Cu | |
| CP/QP: | [Overall Report]: Walter Shamu, John Edwards (Internal;Independent) | |
| ABSTRACT: | Orion Minerals Ltd (ASX/JSE: ORN) (Orion or Company) is pleased to present the outcomes of a scoping study, based on recently updated Mineral Resources, for its Prieska Zinc-Copper Project (Prieska Project or Project), located in the Northern Cape Province of South Africa (Scoping Study or Study). The Study confirms the potential for the Prieska Project to become a significant near-term, low-cost, zinc and copper concentrate producer, whilst laying the foundations for future opportunities. Based on Study assumptions, the Project would provide excellent financial returns, for modest capital investment given the scale of operations envisaged. Orion’s Managing Director and CEO, Errol Smart, commented: “We are very pleased to have completed our Resource upgrade that has confirmed what an exceptional deposit we have at Prieska. With nearly two-thirds of the Resource now in the Indicated category, we can present the case for the first ten years of a very attractive mining operation. The Study indicates solid operating margins, with the peak funding of AUD 320m inclusive of 20% contingency, recovered within the first third of mine life all supported by current Indicated Resources yielding an NPV of AUD 420m. The Study identifies important opportunities for further financial upside, both from extending the life of mine, and from optimising the grade of extraction following further drilling to be conducted from underground. The current Phase 1 Study has examined extracting only 75% of the total Mineral Resource at the mean Mineral Resource grade. The application of further modernisation, making optimised use of low-cost available renewable energy, also provides an important cost saving opportunity being investigated in depth by the Bankable Feasibility Study which is well advanced.” | |
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