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Sprott Resource Holdings Inc.
Summary
| Project: | Minera Tres Valles | |
|---|---|---|
| Deposit: | Minera Tres Valles | |
| Location: | Chile | |
| Commodities: | Copper | |
| Date: | 11/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-11-2018: Sprott Resource Holdings Inc. announces a PEA report for its Minera Tres Valles deposit at the Minera Tres Valles project. PEA results incl. post-tax NPV of US $87M, IRR of 93%, 6.5yr LOM at the project. TORONTO, November 2, 2018 -- Sprott Reso | |
| Resources: | (Reserve, P+P): 5.168Mt @ 0.814% CuT for 92.698Mlbs Cu contained at Don Gabriel | |
| CP/QP: | [Resources]: Michael G. Hester (Independent Mining Consultants Inc.) | |
| ABSTRACT: | TORONTO, November 2, 2018 -- Sprott Resource Holdings Inc. (“SRHI” or the “Company”) (TSX:SRHI) is pleased to announce the results from a series of technical studies (the “Technical Studies”) on its 70% owned Minera Tres Valles Copper Project (“MTV” or the “Project”) located in Salamanca in Region IV of Chile which will be reported in a consolidated NI 43-101 compliant technical report (the “Technical Report”). The Technical Studies were completed by Amec Foster Wheeler, a Wood company (“Wood”) along with contributions from independent consulting firms. “We are very pleased with the results of the Technical Studies which validates our initial due diligence and investment thesis for the Project,” said Steve Yuzpe, CEO of SRHI. “The Technical Studies confirm that MTV should almost triple current levels of production achieving a run rate of approximately 18,000 tonnes per annum of copper cathodes,” added Mr. Yuzpe. “Based on a long-term copper price of US$2.75/lb, the preliminary economic assessment which looked at the total available mineral resources on the Project indicates that MTV could generate US$34 million in project cash flow in 2020 peaking at US$45 million in 2022.” “The mine is operating well and crushing more than 100,000 tonnes of mineralized material per month,” said Luis Vega, CEO of MTV. “With the substantial infrastructure and development built by Vale S.A., the capital cost required to ramp up to full production is low and has resulted in attractive project economics with a short payback period.” “We continue to believe in the long-term fundamentals for copper and Chile as a premier mining jurisdiction,” said Rick Rule, CIO of SRHI. “MTV is a core asset for SRHI and we are focused on building from this foundation. | |
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