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Savannah Resources Plc
Summary
| Project: | Mutamba | |
|---|---|---|
| Deposit: | Mutamba | |
| Location: | Mozambique | |
| Commodities: | Titanium-Iron-Ilmenite-Rutile-Zircon | |
| Date: | 5/30/2017 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 30-5-2017: Savannah Resources Plc announces a Scoping Study report for its Mutamba deposit at the Mutamba project. JV - Scoping study results incl. pre-tax NPV(10%) of US$154M, IRR of 19%, LOM of 30yrs. Savannah Resources plc (AIM: SAV) ('Savannah' or 'th | |
| Resources: | (Resource, I+I): 4.4Bt @ 3.9% THM at project | |
| CP/QP: | [Resources]: Colin Rothnie (Independent) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), is pleased to announce completion of the Mutamba Scoping Study*, which concludes that there is potential for a financially robust, long life mineral sands project that is anticipated to provide excellent life of mine financial returns with relatively modest capital requirements (Figure 1). The Mutamba Mineral Sands Project ('Mutamba' or 'the Project') is being developed by Savannah and Rio Tinto as part of a consortium agreement between the two parties (the 'Consortium'). Savannah has the right to earn up to a 51% interest in the Project, subject to key milestones being met, and by delivering the scoping study Savannah now holds a 20% interest. Savannah’s CEO, David Archer said: “The results of the Scoping Study outline the potential for a long life, robust project at a time of increasing demand for titanium feedstocks and strong price growth. Mutamba is a tier one deposit that is well placed to provide a long-term, reliable supply of ilmenite, zircon and rutile. With high-grades at surface, the Project shows potential strong returns over a 30-year mine life. Our Management Case One shows that the Project has a Pre-tax NPV₁₀ of US$244m and a four year pay-back. “Our conceptual mine plan is based on well known, long established mining and processing techniques and is enhanced by the very complementary infrastructure setting, comprising local roads, power, telecommunications, an international airport and the nearby port of Inhambane. | |
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