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VM Holding S.A.
Summary
| Project: | Morro Agudo | |
|---|---|---|
| Deposit: | Morro Agudo | |
| Location: | Brazil | |
| Commodities: | Zinc-Lead | |
| Date: | 9/21/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-9-2017: VM Holding S.A. announces a PEA report for its Morro Agudo deposit at the Morro Agudo project. PEA results incl. $63M NPV and life of mine till 2018. V.M. Holding S.A. (Votorantim) requested that Amec Foster Wheeler Perú S.A. (Amec Foster Wheel | |
| Resources: | (Resource): 6.77Mt @ 4.39% Zn, 1.05% Pb (Ind.) + 12.09Mt @ 3.66% Zn, 0.53% Pb at Morro Agudo | |
| CP/QP: | [Resources]: Douglas Reid (Amec Foster Wheeler Americas Ltd.) | |
| ABSTRACT: | V.M. Holding S.A. (Votorantim) requested that Amec Foster Wheeler Perú S.A. (Amec Foster Wheeler) prepare an independent technical report (the Report) on a Preliminary Economic Assessment (PEA) in compliance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and Form 43–101F1 Technical Report for Votorantim on the Morro Agudo Project (Morro Agudo Project or the Project), located in Minas Gerais State in Brazil. The Morro Agudo Project comprises the Morro Agudo Mine, and three deposits along what is known as the Ambrosia Trend (Ambrosia Sul, Ambrosia Norte, and Bonsucesso). The Morro Agudo Mine commenced operations in 1988, and is nearing the end of its mine life. The Ambrosia Sul deposit is being developed as an open pit operation, with first production occurring in June, 2017. The corporate entity that conducts the mining operations is Votorantim Metais Zinco SA, an indirectly wholly-owned subsidiary of Votorantim. For the purposes of this Report, unless otherwise noted, Votorantim and Votorantim Metais Zinco SA will be referred to interchangeably as Votorantim. The Report was prepared to support scientific and technical disclosure on the Morro Agudo Project in the initial public offering by V.M. Holding S.A. There are limitations on the supporting information in applying modifying factors to the Mineral Resources to convert to Mineral Reserves, and thus, the mine plan does not meet pre-feasibility study requirements in all aspects. In addition, a significant proportion of the planned mill feed is classified as Inferred. As a result, the Report is presented as a PEA. | |
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