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THEMAC Resources Group Releases Copper Flat PEA...
THEMAC Resources Group Releases Copper Flat PEA....
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n THEMAC Resources Group Releases Copper Flat PEA Results\n \n \n\n \n Mercator Gold Plc\n \n \n\n \n \n \n MERCATOR GOLD plc\n \n \n (“Mercator Gold”, “Mercator” or “the Company”)\n \n \n AIM: MCR\n \n \n US OTC: MTGDY\n \n \n THEMAC Resources Group Releases Copper Flat PEA Results\n \n \n London 9 July 2010\n \n \n Mercator Gold plc is pleased to announce that THEMAC Resources Group \n Limited (“THEMAC”) has released the results of the preliminary economic \n assessment (“PEA”) commissioned from SRK Consulting (US), Inc. for the \n Copper Flat copper-molybdenum-gold-silver project (“Copper Flat”) in New \n Mexico, USA.\n \n \n As previously announced, THEMAC has agreed to acquire Mercator’s \n exclusive option over a 100% interest in Copper Flat (“the Sale”). \n THEMAC is listed on the TSX Venture Exchange under the symbol MAC.H.\n \n \n Highlights\n \n \n \n PEA completed by SRK with robust results:\n \n \n Mine life 17 years.\n \n \n Payback within 2 years from start of production.\n \n \n Life-of-mine (“LoM”) operating costs US$1.41/lb copper equivalent, \n excluding gold and silver credits.\n \n \n Average production of approx. 36 million lbs copper and 628,000 lbs \n molybdenum per annum over first 13 years of operations.\n \n \n Further average production over four years of approximately 15 million \n lbs copper and 335,000 lbs molybdenum per annum.\n \n \n NPV (6%) US$144 million.\n \n \n IRR (post-tax) 23%.\n \n \n Initial capital US$179 million and sustaining capital over the LoM of \n US$112 million.\n \n \n Mine closure costs of US$40 million.\n \n \n A boost to the project economics is anticipated once gold and silver \n values are incorporated into the financial model and as aspects of the \n proposed mining operation are optimised.\n \n \n The updated Copper Flat Mineral Resource estimate by SRK (announced by \n THEMAC on May 25, 2010) now includes molybdenum.\n \n \n Upon completion of the Sale, THEMAC will proceed with a prefeasibility \n study, and pending positive economic results at that stage, onto a \n full feasibility study.\n \n \n Project permitting is already underway and all project costs are being \n met by THEMAC.\n \n \n A full announcement made by THEMAC on 8 July 2010 may be viewed on \n SEDAR (www.sedar.com).\n \n \n \n About the Sale\n \n \n Copper Flat is a former producing mine wi...