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Meridian Announces Filing of its PEA Technical Report for Cabaçal Gold-Copper Project, Brazil
LONDON, UK / ACCESSWIRE / April 3, 2023 / Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)...
About this update from Meridian Mining Plc
[{"type":"text","content":"Meridian Announces Filing of its PEA Technical Report for Cabaçal Gold-Copper Project, BrazilLONDON, UK / ACCESSWIRE / April 3, 2023 / Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQB:MRRDF) (\"Meridian\" or the \"Company\") is pleased to announce that the Company has filed an independent Preliminary Economic Assessment (\"PEA\") technical report (the \"Technical Report\") for the Cabaçal gold-copper deposit in Brazil (\"Cabaçal\" or the \"Project\"), in support of the Company's news release dated March 6, 2023, entitled: \"Meridian Delivers Strong Economics for Cabaçal's PEA: After-Tax NPV5 of USD 573 million, 58.4% IRR & 10.6 Month Payback\". There are no material differences between the Technical Report from those in the news release.Cabaçal 2023 PEA Highlights, as announced on March 6, 2023: (All amounts are in United States Dollars unless otherwise stated)Base case after-tax NPV5 of $573M (CAD1 $778M) and 58.4% IRR using $1,650/oz gold, $3.59/lb copper, and $21.35/oz silver;Spot case after-tax NPV5 of $745M (CAD1 $1.01B) and 69.7% IRR using3 $1,841/oz gold, $4.13/lb copper, and $21.35/oz silver;High-grade year 1 mill feed of 2.3 g/t gold and 0.29% copper which generates high after-tax first year free cash flow of $204M, leading to capital repayment in 10.6 months;Average grade of 0.64 g/t gold and 0.31% copper over the life of mine - which demonstrates the efficiency of the flowsheet in recovering the gold, copper and silver;Average annual gold equivalent production of 131,100 ounces at AISC of $670.70/oz AuEq2 for years 1-5;Total LOM (22.3 years) production of 1.02M ounces gold, 353 Mlbs of copper and 1.76M ounces of silver;Pre-production CAPEX of $179.6M (CAD1 $244.1M);Low life-of-mine strip ratio of 2.1:1;After tax NPV5:CAPEX Ratio of 3.2:1; andSignificant potential for future economic optimization and project upside remains through engineering optimizations, increased throughput and additional resources that could be identified through the ongoing drill programs.Exchange Rate USD/CAD of 1.35889.Gold equivalents are calculated as: AuEq(g/t) = (Au(g/t) * %Recovery) + (1.492*(Cu% * %Recovery)) + (0.013*(Ag(g/t) * %Recovery)), where:(a) Au_recovery_ppm = 5.4368ln(Au_Grade_ppm)+88.856(b) Cu_recovery_pct = 2.0006ln(Cu_Grade_pct)+94.686(c) Ag_recovery_ppm = 13.342ln(Ag_Grade_ppm)+71.03...