Business
THEMAC Resources Update
THEMAC Resources Update.
About this update from Ecr Minerals Plc
[{"type":"text","content":"\n\n \n \n \n THEMAC Resources Update\n \n \n\n \n ECR Minerals plc\n \n \n\n \n \n \n ECR MINERALS plc(“ECR Minerals”, “ECR” or the “Company”)\n \n AIM: ECRUS OTC: MTGDY\n \n THEMAC RESOURCES UPDATE\n \n \n ECR Minerals plc wishes to draw attention to the news release made \n yesterday by THEMAC Resources Group Ltd (“THEMAC”). The full text of the \n release is provided below.\n \n \n ECR owns approximately 15% of the issued share capital of THEMAC and has \n a fully diluted interest in THEMAC’s share capital of approximately 16%. \n THEMAC is listed on the TSX Venture Exchange with the code MAC.\n \n \n - Beginning of THEMAC release -\n \n \n THEMAC Resources Group Announces PositiveFeasibility \n Study For Copper Flat Project\n \n \n VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 7, 2013) - THEMAC \n Resources Group Limited (TSX VENTURE:MAC) (\"THEMAC\") announces \n positive economics, as well as an increase in reserves and resource for \n its 100% owned Copper Flat Copper - Gold Project located in south \n central New Mexico. The feasibility study is National Instrument (\"NI\") \n 43-101 compliant and was completed by M3 Engineering & Technology Corp. \n (M3) of Tucson, Arizona. The Feasibility Study builds upon the \n Prefeasibility Study published in July 2012 that was also prepared by \n M3. All amounts below are in United States Dollars and all quantities \n are presented in US standard units unless stated otherwise.\n \n \n Copper Flat is a former producing mine located in Sierra County, New \n Mexico, USA, approximately 150 miles south of Albuquerque and 20 miles \n southwest of the town of Truth or Consequences, New Mexico. The project \n land package comprises 4,741 acres, with the majority of the mineral \n reserves located on patented mining claims that are wholly-owned by \n THEMAC.\n \n \n FINANCIAL SUMMARY\n \n \n The Feasibility Study update includes financial analysis on three \n scenarios with varying metal prices: 1) The base case uses a long term \n copper price of $3.00/lb; 2) Upside sensitivity case pricing based on a \n $3.25/lb long term copper price; and 3) Downside sensitivity case \n pricing based on a $2.75/lb long term copper price.\n \n \n The financial return table below is after tax, unlevered and with no \n escalation in commodity prices:\n \n \n \n \n FINANCIAL RETURNS\n \n \n \n \n \n...