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INVESTMENT UPDATE: ASCENDANT / REDCORP
INVESTMENT UPDATE: ASCENDANT / REDCORP.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n\nMINERAL AND FINANCIAL INVESTMENTS LIMITED\nInvestment Update: Ascendant / Redcorp Announces Initial Feasibility Study For The Venda Nova Deposit with a Post-Tax Npv@8% of US$147 Million and a 39% IRR\n \nHighlights\n· Post-tax NPV8% of US$147 million and 39% IRR at long term metal prices\n· Avg. annual payable zinc equivalent (\"ZnEq\") production of 124 million lbs. per annum over first 5 Yrs.\n· Average All-in Sustaining Cost (\"AISC\") of US$0.59/lb. ZnEq over first 5 years\n· Robust Average Free Cash flow of US$56 million per annum over the first 5 years\n· Upfront capex requirement of US$164 million (including US$12 million of contingency)\n· Inaugural NI 43-101 compliant Proven and Probable Reserves (100% basis) in the North Zone of 7.0 Mt at 9.50% ZnEq and in the South Zone Probable Reserves of 7.6 Mt grading 1.24% CuEq.\n· Updated NI 43-101 compliant Mineral Resource (100% basis) of:\n§ North Zone: 8.9Mt at 10.52% ZnEq Measured and Indicated and additional Inferred Resources of 0.5Mt at 6.62% ZnEq\n§ South Zone: 10.0Mt at 1.22% Copper Equivalent (\"CuEq\") and additional Inferred resources of 8.1 at 1.16% Cu Eq.\n· Fulfilled option requirement to deliver 80% indirect ownership in the Lagoa Salgada Project.\n· Metallurgy results confirm strong metal recoveries and saleable concentrates.\n· Optimization Programs commenced to enhance NPV, IRR and operational efficiencies targeted for completion by year end.\n \nCamana Bay, Cayman Islands - 26 July 2023 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) (\"M&F\", M&FI, \"MAFL\" or the \"Company\") is pleased to announce results of its initial NI 43-101 Feasibility Study (\"FS\") for its Lagoa Salgada VMS Project in Portugal based upon an updated Mineral Reserves and Resources Estimate. The completion of the FS completes Ascendant's Option earn-in requirements to move project ownership to 80%, subject to closing documentation with all other conditions having previously been met.\nThe Feasibility Study was completed by QUADRANTE, a multidisciplinary engineering and consulting company with more than 25 years' experience in Europe, Africa and the Americas. Mine planning, ...