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Invicta Project Feasibility Study Audit Filed on SEDAR
Invicta Project Feasibility Study Audit Filed on SEDAR
About this update from Regulus Resources Inc
[{"type":"text","content":"\nInvicta Project Feasibility Study Audit Filed on SEDAR\n\n\n Jul. 9, 2009 (Filing Services Canada) -- Andean American Mining Corp. (AAG - TSX Venture, AQN - FWB), (the Company) is pleased to announce that the Feasibility Study for the Invicta Project has been filed on SEDAR. The Study reports a Net Present Value (NPV) at 11% discount rate of the 5-year free cash flow net of debt amortization amounts to USD 159 million in the base case scenario done by Stanford. For further financial analysis highlights, please see news releases of June 22 and 24, 2009. Negotiations are underway to finalize the project financing within the previously stated time frame of 90 days. An interim financing plan has been developed to provide a mezzanine to the debt financing which will allow all infrastructure and final design activities an early start on the base schedule. \"We continue to be encouraged by the potential of Invicta and we are confidently moving forward towards production,\" states John Huguet, Chairman and CEO.Engineering, Procurement and Construction Highlights:* The main road to the concentrator plant has been surveyed and the secondary road connecting Paran to the mine is plotted on the topographical maps.* The mining plan has been laid out and the adits, drifts, crosscuts and raises have been located.* The first activities of the project are the construction of the access roads and driving the tunnels and raises in the mine.* Certificates have been obtained from the Ministry regarding the absence of archeological remains in the areas affected by the project. * The Environmental Impact Assessment that was submitted to the Ministry in June 2008 is in the final approval stage. * Permits from the neighboring communities have been obtained to build the plant, the roads, and the water and power lines on their lands.* Equipment with long delivery times has been purchased to allow adherence to the 12 to 15 months construction timeframe; in particular, the rod and ball mills, bridge crane and the four tailings disc filters.* Site preparation will start as soon as the heavy equipment is brought up to the plant site at 2,300 m elevation. The main building has been designed, and the contractor for the supply and erection of the steel has been selected. The erection of the building steel frame and the installation of the bridge crane will allo...