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SRG Mining Inc. Announces the Filing of its Feasibility Study for the Lola Graphite Project in the Republic of Guinea, West Africa
MONTREAL, Aug. 19, 2019 /CNW Telbec/ - SRG Mining Inc. (TSXV: SRG) ("SRG" or the "Company") is pleased to announce that today, it has filed the Feasibility Stud
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[{"type":"text","content":" MONTREAL, Aug. 19, 2019 /CNW Telbec/ - SRG Mining Inc. (TSXV: SRG) (\"SRG\" or the \"Company\") is pleased to announce that today, it has filed the Feasibility Study (\"FS\") for the development of the Lola graphite project in the Republic of Guinea, West Africa, for which the results were announced on July 4th, 2019. The FS was prepared by Montréal-based DRA/Met-Chem, a division of DRA Americas Inc. (\"DRA/Met-Chem\"). All dollar figures are in United States dollars. The following lists the highlights of the FS: Average annual production of 54,600 tonnes of graphite flakes over a 29-year mine life; Proven & probable reserves of 42.0Mt @ 4.17% Cg; Capital costs of $123 million (\"M\") including a power plant of $5.8M, concentrate transport equipment of $3.6M, and contingency of $12M; Added flexibility of the plant to process soft saprolite and fresh rock, provides optionality and the ability to expand the production profile; Average operational costs of $470/tonne (\"t\") and $38/t of transport. For the first 16 years of production, the average operational costs are $447/t; Pre-tax NPV (8%) of $277M and internal rate of return (\"IRR\") of 28%; Post-tax NPV (8%) of $159M and IRR of 21%; Average grade of graphite flakes over 95%; A low strip ratio of 0.69. The report can be found on the Company's website at the following link or on www.sedar.com. About DRA/Met-Chem Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting engineering company, headquartered in Montreal, and provides a wide range of technical and engineering services. DRA is a multidisciplinary global engineering group that delivers mining, mineral processing, energy, water treatment and infrastructure services from concept to commissioning and into operation. DRA has offices in Africa, Australia, Canada, China and the United States. ABOUT SRG MINING SRG Mining is a Canadian-based mining company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally, and ethically responsible manner. For additional information, please visit SRG's website at www.srgmining.com. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy...