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Stellar Resources Ltd.
Summary
| Project: | Heemskirk | |
|---|---|---|
| Deposit: | Heemskirk | |
| Location: | Australia | |
| Commodities: | Tin-Copper-Lead-Zinc | |
| Date: | 10/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-10-2019: Stellar Resources Ltd. announces a Scoping Study report for its Heemskirk deposit at the Heemskirk project. Scoping study results incl. post-tax NPV (10%) of A$71M. Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company) is pleased to r | |
| Resources: | (Resource, I+I): 6.60Mt @ 1.1% Sn, 0.1% Cu, 0.3% Pb, 0.3% Zn at Heemskirk | |
| CP/QP: | [Resources]: Tim Callaghan (Resource and Exploration Geology Pty Ltd.) | |
| ABSTRACT: | Stellar Resources Limited (ASX: SRZ, “Stellar” or the “Company) is pleased to report the results of its recently completed Scoping Study on the Heemskirk Tin Project. The Heemskirk Tin Project is based on development of an underground mine, processing plant, tailings storage facility and surface infrastructure to mine ~ 350ktpa ore from the Queen Hill and Severn tin deposits (2 of the 4 Heemskirk deposits) over a 10 year mine-life, producing tin concentrate to be trucked to the port of Burnie for export. The Project also includes open-pit mining of the St Dizier satellite deposit and trucking to the processing plant at Heemskirk during the final year (year 11) of the project. The Heemskirk Tin Project Scoping Study valuation resulted in a base case pre-tax NPV10% of approximately A$83m (post-tax NPV10% of approximately A$71m), at a tin price of US$20,000, determined to an accuracy of ±35%. The pre-tax IRR of the project is approximately 45% and a payback period is approximately 3.0 years. Capital cost required for the project is approximately A$57m. First ore to the processing plant is expected to occur approximately 6 months from the start of decline development and concentrate sales should commence approximately 3 months later. | |
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