Business
Further re Preliminary Economic Assessment: Asi...
Further re Preliminary Economic Assessment: Asi....
About this update from Asiamet Resources Limited
[{"type":"text","content":"\n Further re Preliminary Economic Assessment: Asiamet Resources Files Preliminary Economic Assessment Report for the Beruang Kanan Prospect, KSK CoW, Indonesia VANCOUVER, British Columbia, May 20, 2016 (GLOBE NEWSWIRE) -- Asiamet Resources Limited (\"ARS\" or the \"Company\") has filed a technical report supporting the independently prepared Preliminary Economic Assessment (\"PEA\") study of the Beruang Kanan Main Zone. The PEA has been finalized in compliance with the guidelines of Canadian National Instrument 43-101. The PEA is available for viewing on www.sedar.com or www.asiametresources.com. As announced on April 5, 2016, the highlights of the PEA are:The PEA is the first study undertaken to evaluate the economics of developing an open pit mine and heap leach solvent extraction electro-winning facility (\"SX-EW\") to directly produce copper cathode based on the near surface copper deposit reported in the 2015 BKM Resource estimate (ARS NR October 21, 2015). Results of the PEA study demonstrate excellent potential for developing a robust, low strip ratio, low capital intensity copper project with low operating costs, strong cash flow generation capacity and significant upside potential through further Resource growth.PEA base case highlights:Target annual production of 25,000 tonnes LME grade A (99.999%) copper metalAfter-tax Net Present Value (\"NPV\") of US$204.3 million (10% discount rate)After-tax Internal Rate of Return (\"IRR\") of 38.7%Gross Revenue of US$1.27 billion (US$3.25Ib copper price over Life of Mine (\"LOM\")C1 Operating cost of US$1.28 per poundInitial Capital Cost of US$163.8 million with low capital intensity2.4 year payback (After-tax from the start of production)Robust mine plan derived from Indicated Resources (29%) and Inferred Resources (71%)Initial 8+ year mine life at a low average strip ratio of 1.23Significant potential for additional mineralization close to BKMAsiamet considers target production of 25,000 tonnes of copper cathode per year for an initial 8 year LOM to be the most appropriate option for the PEA given the significant exploration potential already identified close to the BKM deposit. Copper mineralization at BKM remains open in several directions and locally at depth. Adjacent high potential prospects at Beruang Kanan South ...