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Erin Ventures Announced Results of Preliminary Economic Assessment for 100% Owned Piskanja Boron Project - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 19, 2014) - Erin Ventures (TSXV: EV) ...
About this update from Boron One Holdings Inc
[{"type":"text","content":"Erin Ventures Announced Results of Preliminary Economic Assessment for 100% Owned Piskanja Boron Project - Video News Alert on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - September 19, 2014) - \n Erin Ventures (TSXV: EV) has announced the results of its Independent Technical Report and Preliminary Economic Assessment for the company's 100% owned Piskanja boron project, located in the Jarandol Basin, a historical \nmining region in Serbia, 250 kilometres south of Belgrade. \n\nInvestmentPitch.com has produced a \"video news alert\" about Erin Ventures. If this link is not enabled, please visit \nwww.InvestmentPitch.com and enter \"Erin\" in the search box. \n\n\n\nIf you cannot view the video above, please visit:\n http://www.investmentpitch.com/video/0_rrzmct3g/Erin-Ventures-TSXV-EV-Announces-results-of-its-Independent-Technical-Report-and-Preliminary-Economic-Assessment\n\n\nThe PEA, prepared by SRK Consulting (UK), reported the following highlights: \n\n\nPost-tax Net Present Value of US$428 million and an Internal Rate of Return of 64%, using a 10% discount rate\n\nMine life of 21 years, with a projected payback of 15 months from startup\n\nLife of Mine mining production of 6.9 million tonnes with an average grade of 27.8% boric oxide\n\nPre-production capital cost of US$84.6 million, including boric acid production plant and contingencies\n\nAverage annual gross revenue of US$97 million\n\nNet operating margin of 68.7%, net of all operating costs\n\nLife of Mine all-in operating cost per tonne of product sold, post-tax, is US$165.75\n\n\nProject economics were estimated assuming a constant price of US$400 a tonne for colemanite at 35% purity, a figure well below the recognized current market price of approximately US$500 a tonne, and US$800 a tonne for boric acid. \n\nAlthough the term \"boron\" is common used, it does not occur in nature in an elemental state. Boron combines with oxygen and other elements to form boric acid and borite minerals such as colemanite.\n\nTim Daniels, President and CEO stated: \"We are very pleased with the positive PEA for the Piskanja Project, our premier asset. It shows Piskanja as a robust, long life, low cost mining operation, and represents a significant opportunity for our shareholders. Piskanja is demonstrating the potential for both exceptional economics in the...