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NAM Files NI 43-101 Technical Report for Preliminary Economic Assessment on the River Valley PGE Project, Sudbury, Ontario, Canada
(via TheNewswire) August 8 th , 2019 - TheNewswire - Rockport, Canada - New Age Meta...
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[{"type":"text","content":"NAM Files NI 43-101 Technical Report for Preliminary Economic Assessment on the River Valley PGE Project, Sudbury, Ontario, Canada(via TheNewswire)\n \n \nAugust 8th, 2019 - TheNewswire - Rockport, Canada - New Age Metals Inc. (NAM or the Company) (TSXV:NAM) (OTC:NMTLF) (FSE:P7J.F) Harry Barr, Chairman & CEO, stated; \"We are pleased to announce that we have filed our National Instrument 43-101 Technical Report on the Preliminary Economic Assessment (PEA) on the Company's 100% owned River Valley PGM Project in Sudbury, Ontario Canada (River Valley or the Project) titled \"Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment of the River Valley Project\" with an Effective Date of June 27, 2019, on SEDAR at www.sedar.com. The PEA demonstrates positive economics for a large-scale open pit mining operation, with 14 years of Palladium and Platinum production.\"\n\n\n \n(*) Cautionary statement NI 43-101: The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\"). Readers are cautioned that the PEA is preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations 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 \nAll currency is stated as CDN$ unless stated otherwise.\n\n \n\nPEA Highlights (CDN$ unless otherwise noted):\n\n\n\n\n\n- Life of mine (LOM) of 14 years, with 6 million tonnes annually of potential process plant feed at an average grade of 0.88 g/t Palladium Equivalent (PdEq) and process recovery rate of 80%, resulting in an annual average payable PdEq production of 119,000 ounces\n\n\n\n- Pre-Production capital requirements: $495 M\n\n\n\n- Undiscounted cash flow before income and mining taxes of $586M\n\n\n\n- Undiscounted cash flow after income and mining taxes of $384M\n\n\n\n- Average unit operating cost of $19.50/tonne over the life-of-mine\n\n\n\n- LOM average operating cash cost of $971 per ounce (US$709/oz) and all-in sustaining cash cost of $972 per ounce (US$709/oz) at a 1.37 CDN: USD exchange rate.\n\n\n\n- A mining contractor will be engaged...