Business
Lomiko Metals Inc. Delivers Positive PEA For La Loutre Graphite Project
MONTREAL / Jul 29, 2021 / Business Wire / Lomiko Metals Inc. (Lomiko) ((TSX-V: LMR, OTC: LMRMF, FSE: DH8C)) ("Lomiko Metals Inc or “Lomiko" or the "Corporation"
About this update from Lomiko Metals Inc.
[{"type":"text","content":"MONTREAL / Jul 29, 2021 / Business Wire / Lomiko Metals Inc. (Lomiko) ((TSX-V: LMR, OTC: LMRMF, FSE: DH8C)) (\"Lomiko Metals Inc or “Lomiko\" or the \"Corporation\") is pleased to announce positive results from the Preliminary Economic Assessment (“PEA”) on its 100 percent-owned La Loutre Project in south-eastern Quebec. The PEA was completed by Ausenco Engineering Canada Inc. (“Ausenco”) in accordance with National Instrument 43-101 (“NI 43-101”). Lomiko now aims to initiate a Preliminary Feasibility Study (PFS) to advance its La Loutre Project towards production as part of a staged development strategy while continuing its aggressive drilling programs to maximize value creation. Highlights of the PEA (all figures are stated in Canadian dollars unless otherwise stated): Long-term Weighted-Average1 Graphite Price US$916/t Cg conc. (graphitic carbon concentrate) Exchange rate: C$1.00 = US$0.75 Pre-tax NPV (8%) of C$313.6M After-tax NPV (8%) of C$185.6M Pre-tax IRR of 28.3% After-tax IRR of 21.5% Pre-tax payback period of 3.3 years After-tax payback period 4.2 years Initial capital of (“CAPEX”) of C$236.1M including mine pre-production, processing, infrastructure (roads, power line construction, co-disposal tailings facility, ancillary buildings, and water management) Life of mine processing period (“LOM”) of 14.7 years Average LOM strip ratio (Waste:Mineralization) of 4.04:1 LOM plant production of 21,874 Kilotons (kt=1,000 metric tonnes) of mill feed yielding 1,436 kt of graphite concentrate grading 95.0% Cg. Average annual graphite concentrate production of 108 kt for the first eight years; LOM average annual production of 97.4 kt. Average graphite mill head grade of 7.44% Cg for the first eight years; LOM average graphite mill head grade of 6.67% Cg. Average LOM recovery of 93.5% Cg. Measured + Indicated resource at the base case cut-off grade of 1.5% Cg of 23,165 kt at a 4.51% Cg grade for 1.04 Mt of graphite. Inferred resource at the base case cut-off grade of 1.5% Cg of 46,821 kt at a 4.01% Cg grade for 1.9Mt of graphite. Cash Cost of US$386 per tonne of graphite concentrate All-in Sustaining Cost (“AISC”) of US$406 per tonne of graphite concentrate The Lomiko team is pleased to present the results of a PEA on its La Loutre Project, clearly demonstrating its potential for the Corporation to become a major North American gra...