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Proyecto Riotinto updated 43-101 technical report
Proyecto Riotinto updated 43-101 technical report.
About this update from Atalaya Mining Copper Sa
[{"type":"text","content":"\n \nRNS Number : 9163T Atalaya Mining PLC 09 July 2018 \n\n9 July 2018\nAtalaya Mining Plc\n(\"Atalaya\" or the \"Company\")\nProyecto Riotinto - 29% Increase in Open Pit Mineral Reserves\nUpdated 43-101 Technical Report\n \nAtalaya Mining Plc (AIM:ATYM, TSX:AYM) is pleased to announce the completion of a NI43-101 compliant technical report on an updated resources and reserves estimate for Proyecto Riotinto in south western Spain.\n \nHighlights\n \nStrong Project Economics\n· Total open pit proven and probable mineral reserves at Cerro Colorado are estimated at 197 Mt grading 0.42% Cu\n· Updated resources and reserves estimate reports a 29% increase in mineral reserves\n· Contained copper increases 21% to 822,000 tonnes\n· NPV post-tax at 8% discount rate of US$512 million using long term copper price of US$3.00/lb and life-of-mine average Euro to US dollars exchange rate of €1:$1.18.\n· Total cash flow of US$1,207 million\n \nReduced Operating Costs\n· Estimated average C1 cash costs of US$2.10/lb of payable Cu net of silver credits\n· All-in sustaining costs (\"AISC\") of US$2.22/lb of payable Cu net of silver credits\n \nCapital Costs\n· Development capital expenditure of US$95 million to increase throughput to 15 Mt/y \n· LOM sustaining capital expenditure of US$84 million\n \nProject Parameters\n· Recoverable copper within P&P open pit reserves is estimated at 696,500 tonnes and 9.4 million ounces of silver\n· Life of Mine (\"LOM\") of 13.8 years\n· 2019 ramp-up production to 11 Mt/y and 2020 production at 15 Mt/y\n· Average yearly production of 50,000 tonnes of copper and 670,000 ounces of silver in concentrate \n· Reduced strip ratio, waste to ore, of 1.43:1\n \nAlberto Lavandeira, CEO of Atalaya Mining Plc commented:\n\"This is a significant milestone in Atalaya's development. This report shows that we have increased our total open pit proven and probable reserve...