Business
Norsemont Mining Provides Feasibility Study Update
Shares Issued and Outstanding: 70,020,705 TSX: NOM BVL: NOM
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nShares Issued and Outstanding: 70,020,705\nTSX: NOM\nBVL: NOM\n\n\nTORONTO and LIMA, Peru, July 21 /CNW/ - In response to shareholder\nenquiries, Norsemont Mining Inc. ("the Company") (TSX: NOM, BVL: NOM) today\nprovided an update on progress with the Constancia feasibility study.\n\n\nThe final alignment meeting between Norsemont and the feasibility study\ncontractors is on schedule for mid-August 2009. Based on this schedule,\nNorsemont anticipates being in a position to release the final feasibility\nstudy results on schedule during the current quarter.\n\n\nAbout Norsemont Mining\n\n\nNorsemont Mining is a Canadian mineral exploration and development\ncompany focused on the 100 percent-controlled Constancia Cu-Mo-Ag deposit in\nsouthern Peru.\n\n\nThe Constancia Project currently has a 43-101 compliant indicated\nresource of 256.3M tonnes at 0.5% Cu (2.85 Billion lbs Cu) and an inferred\nresource of 156.5M tonnes at 0.33% Cu (1.14 Billion lbs Cu). A recently\ncompleted scoping study anticipates a project producing in excess of 90,000\ntonnes of copper annually. The study indicates the project has a net present\nvalue of $530 million and an internal rate of return of 25.3 percent. The\nfollowing long-term commodity price assumptions were used in the study: copper\n$1.80 per pound, molybdenum $12 per pound and silver $11 per ounce. The full\nstudy, dated December 11, 2007, and titled "Preliminary Assessment of the\nConstancia Project, Department of Cusco, Peru" is available for viewing on\nSEDAR. Mineral resources that are not mineral reserves do not have\ndemonstrated economic viability.\n\n\nThe technical information provided in this press release was reviewed and\napproved by Robert. W. Baxter (MAusIMM), the President and a director of the\nCompany and a qualified person for the purposes of National Instrument 43-101.\n\n\n","length":1965,"tagName":"div"}]