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Rosita makes correction to previously-announced PEA results
(via TheNewswire) Toronto, Ontario-/ TheNewswire / May 26, 2017 - Rosita Mining Corpora...
About this update from King Global Ventures Inc.
[{"type":"text","content":"Rosita makes correction to previously-announced PEA results(via TheNewswire)\n\n \n\n\nToronto, Ontario-/ TheNewswire / May 26, 2017 - Rosita Mining Corporation (RST: TSX-V) (\"Rosita\" or the \"Company\") has reviewed the NI 43-101 Report filed on April 20th 2017 and found two errors in the Cash flow statement, which have since been corrected. A revised NI 43-101 report will be filed.\n\n \n\nThe revised NPV at 7%, after all government taxes, is corrected to $28.8 million from $33.9 million\n\n\n\nThe pay back of initial pre-production capital after all taxes is corrected to 2.8 years from 2.6 years.\n\n \n\nHighlights of the report are outlined below.\n\n \n\nThe Resources estimated and the results of the testwork and engineering previously disclosed, allowed the following Project to be defined for the PEA:\n\n \n\n-Anticipated Life of Mine of 10 years, utilizing 4.67 million tonnes of the material included in the resource tabulation categorized as Indicated Mineral Resources grading at 0.51 grams per tonne gold, 8.2 grams per tonne silver and 0.59% copper and 1.53 million tonnes categorized as Inferred Mineral Resources grading at 0.61 grams per tonne gold, 11.3 grams per tonne silver and 0.65% copper.\n\n\n\n-Anticipated capacity of the Treatment plant (milling plus heap leach) of 1,000 tonnes per day for the first 5 years, expanding to 2,000 tonnes per day for the subsequent 5 years.\n\n \n\nThe metal prices assumed for the economic Model are:\n\n \n\n?Gold: USD$1250 per ounce\n\n\n\n?Silver: USD$18 per ounce\n\n\n\n?Copper: USD$2.50 per pound.\n\n \n\nOther criteria, assumptions and conclusions from the PEA may be summarised:\n\n \n\n-All monetary amounts are in USD. \n\n\n\n-Pre-production capital costs including 30% contingencies, $11.4 Million\n\n\n\n-Total capital over life of mine, $26.1 Million\n\n\n\n-Operating costs over the life of mine per tonne of throughput, $ 18.5 per tonne\n\n\n\n-The Nicaraguan royalty rate of 3% NSR and 0.5% to an independent 3rd party applied to all saleable products.\n\n\n\n-The Nicaraguan income tax rate of 30% after depreciation of fixed assets at 10%\n\n\n\n \n \n-IRR after all government taxes 41%;\n\n\n \n-NPV at 7%, after all government taxes $28.8 million;\n\n\n \n-Pay back of initial pre-production capital after all taxes 2.8 years\n\n \n \nJohn Cook, President and CEO commented t...