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HIRU Corporation (HIRU) Releases Preliminary Feasibility Scoping Study for the Balfour Project, Tasmania
HIRU Corporation (HIRU) Releases Preliminary Feasibility Scoping Study for the Balfour Project, Tasmania.
About this update from Hiru Corp.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - October 8, 2024) - HIRU Corporation (OTC Pink: HIRU) $HIRU www.otchiru.com, www.hirumining.com is pleased to announce the completion of a preliminary feasibility scoping study for the Balfour Copper Project located in northwestern Tasmania, Australia. This study, which focuses on a 10-year Life of Mine (LOM) snapshot, highlights the project's significant financial potential, driven by both the scale of copper reserves and increasing global demand.The Balfour Project is projected to treat 500,000 tonnes of ore annually, grading at 1.5% copper, yielding approximately 50,000 tonnes of copper concentrate per year. The study evaluates a 5-million-tonne ore processing scenario, representing only a portion of the overall project, as additional resources remain to be explored and developed.Projected Revenue & FinancialsYear 1 projected metal revenue: USD $73.47 millionYear 10 projected metal revenue: USD $93.07 millionEstimated net revenue and strong cash flow throughout the 10-year period:Year 1 net revenue: USD $33.80 millionYear 10 net revenue: USD $42.81 millionTotal costs are expected to rise from USD $39.67 million in Year 1 to USD $50.26 million by Year 10.The scoping study underscores the project's scalability and financial robustness. The JORC-compliant resources at Murry's Reward, located within the Balfour Project, represent just a fraction of the potential. Extensive exploration opportunities along the 70-kilometer strike remain untapped, suggesting that the project's ultimate production capacity may far exceed the figures presented in this initial analysis.By-Products & Diversification The Balfour Project's potential is further enhanced by the presence of by-products such as gold and silver, which are frequently associated with copper deposits in Tasmania. These by-products offer diversification of revenue streams, providing additional financial upside and serving as a hedge against potential copper price volatility.HIRU Corporation remains committed to advancing the Balfour Project while maintaining a balance between resource extraction and environmental sustainability, in line with Tasmanian laws and regulations. As the project progresses, further studies and exploration are planned to unlock the full potential of the project.In other company news and events, The management ackn...