A Feasibility Study on the 4 advanced projects on the Asmara Project was completed in May 2013 which demonstrated very strong economics; NPV (10%) = $692 million, IRR = 34%. The Feasibility Study outlined a robust mining plan with a 3 phase staged start-up with Phase 1 production beginning in 2015 and Phase 3 (Full Production) achieved in 3 years.
Average annual production over the first 8 years of Full Production:
- ±65 million lbs. (29,000 t) copper
- ±184 million lbs. (83,000 t) zinc
- ±42,000 oz gold
- ±1 million oz silver
The project has significant exploration potential and 2 "pipeline deposits" are being developed; Adi Rassi (copper-gold) and Kodado (gold) which are now 5th and 6th resource on the Project. ...More