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Rosita's Santa Rita Project Preliminary Economic Assessment Study Demonstrates a 10-year project that returns 41% IRR after Government Royalty and Taxes
(via TheNewswire) Toronto, ON / TheNewswire / March 6 2017 - Rosita Mining Corporation ...
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[{"type":"text","content":"Rosita's Santa Rita Project Preliminary Economic Assessment Study Demonstrates a 10-year project that returns 41% IRR after Government Royalty and Taxes(via TheNewswire)\n \n \nToronto, ON / TheNewswire / March 6 2017 - Rosita Mining Corporation (RST: TSX-V) (\"Rosita\" or the \"Company\") is pleased to announce the completion of a Preliminary Economic Assessment (\"PEA\") including a Financial, Economic and Planning Model (\"Model\") at its 67% owned Santa Rita Project, in Nicaragua.\n\n\n \nThe PEA is preliminary in nature and it includes Indicated and Inferred resources in the Stockpiles and Tailings Resources as disclosed by the Company's February 8, 2016 NI 43-101 Technical Report (filed on SEDAR March 22nd 2016). The Inferred Resources are too speculative geologically to have economic considerations to be applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.\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\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 3 years, expanding to 2,000 tonnes per day for the subsequent 7 years.\n\n\n\n\n \nThe metal prices assumed for the economic Model are:- \n\n\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\n\n \nOther criteria, assumptions and conclusions from the PEA may be summarised: \n\n\n \n\n\n-Pre-production capital costs including 30% contingencies, $11.4 Million\n\n\n\n-Total capital over life of mine including 30% contingencies, $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% NS...