Business
Scoping Study for Choco Gold-Platinum Project
Scoping Study for Choco Gold-Platinum Project.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7816Y Bezant Resources PLC 08 March 2017 \n\n8 March 2017\nBezant Resources Plc\n(\"Bezant\" or the \"Company\")\n \nIndependent scoping study completed for Choco alluvial \ngold-platinum project, Colombia\nBezant (AIM: BZT), the AIM quoted mineral exploration and development company, announces that, further to its announcement of 24 January 2017, it has received from INGEX Grupo Minero SAS (\"INGEX\") their scoping study on the cost estimates and financial model for the Company's Choco alluvial gold-platinum project in Western Colombia (the \"Choco Project\"). \n \nHighlights:\n \n· Study confirms the technical and economic feasibility of alluvial platinum (Pt) and gold (Au) production at the Choco Project based on historical data and drilling results\n· Financial modelling based on stage 1 production using a single plant operation with a plant processing rate of 1,800m3/day (\"Stage 1 Production\")\n· Comprehensive cost analysis and financial model has enabled, inter alia, the calculation of the following key estimated parameters for Stage 1 Production over a 12 month operational period:\no US$768 per ounce total cost of production for platinum and gold recoveries\no US$6.01/m3 (US$4.29/tonne) total average mining and processing cost\no 0.17 grammes per tonne (238mg/m3) break-even grade for combined Pt and Au; and\no annual platinum and gold production of 2,200 ounces and 1,467 ounces, respectively\n \n· Principal underlying assumptions applied in the financial model include:\no combined Pt and Au grade of 300mg/m3 for processed material based on an assessment of historic third party mining operations and drilling data;\no current metals prices (US$965 per ounce of platinum and US$1,176 per ounce of gold); and\no a discount rate of 10% \n· Estimated post tax profit, NPV, IRR and costs per ounce for both a 12 month and 5 year single plant operation are summarised below:\n \n\n\n\n\nDuration\n\n\nPost tax profit\nUS$m\n\n\nNPV\nUS$m\n\n\nIRR\n%\n\n\nCost per oz in US$\n\n\n\n\n12 months\n\n\n0.343\n\n\n0.323\n\n\n29%\n\n\n768\n\n\n\n\n5 years\n\n\n3.57\n\n\n2.8\n\n\n32%\n\n\n693\n\n\n\n\n·&nb...