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Rosita Mining Corp.
Summary
| Project: | Rosita | |
|---|---|---|
| Deposit: | Santa Rita | |
| Location: | Nicaragua | |
| Commodities: | Gold-Copper-Silver | |
| Date: | 5/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 26-5-2017: Rosita Mining Corp. announces a PEA report for its Santa Rita deposit at the Rosita project. Corrected cash flow statement for previously released PEA results.. Toronto, Ontario-May 26, 2017: Rosita Mining Corporation (RST: TSX-V) (“Rosita” or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Salari, John Cook (D.E.N.M. Engineering Ltd.;Internal) | |
| ABSTRACT: | Toronto, Ontario-May 26, 2017: Rosita Mining Corporation (RST: TSX-V) (“Rosita” or the “Company”) has reviewed the NI 43-101 Report filed on April 20th 2017 and found two errors in the Cash flow statement, which have since been corrected. A revised NI 43-101 report will be filed. The revised NPV at 7%, after all government taxes, is corrected to $28.8 million from $33.9 million The pay back of initial pre-production capital after all taxes is corrected to 2.8 years from 2.6 years. John Cook, President and CEO commented that “the stockpiles and tailings were accumulated on the ground by the Santa Rita Mine that closed in 1978, when copper prices were low and the treatment plant was not really suitable for the copper and gold ore. Recent innovative work using SGS Lakefield and preliminary engineering by D.E.N.M. Engineering Ltd., has allowed Rosita to design a modern treatment plant and construct the resulting Project Model, which is very positive. The project only uses 72% of the indicated mineral resources and 28% of the inferred mineral resources in the resources tabulation. The economics relating to the balance of indicated mineral resources and inferred mineral resources have not been sufficiently studied for inclusion in the Model at this time.” | |
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