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Igor PFS Shows Pre-Tax 64% IRR (59% Post-Tax), $601/oz AuEq Cash Costs for PPX
VANCOUVER, BC / ACCESSWIRE / December 4, 2018 / PPX Mining Corp. (the " Company " or " PPX "...
About this update from Ppx Mining Corp.
[{"type":"text","content":"Igor PFS Shows Pre-Tax 64% IRR (59% Post-Tax), $601/oz AuEq Cash Costs for PPXVANCOUVER, BC / ACCESSWIRE / December 4, 2018 / PPX Mining Corp. (the \"Company\" or \"PPX\") is pleased to announce that it has received the results of an independent Pre-Feasibility Study (\"PFS\") for an integrated underground mine and gold-silver recovery plant at the Company's Igor Project in Northern Peru. The PFS was prepared by Mine Development Associates (\"MDA\") of Reno, Nevada in accordance with the requirements of Canadian National Instrument 43-101 \"Standards of Disclosure for Mineral Projects\" (NI 43-101). Unless otherwise noted, the results below are expressed in US dollars, Canadian dollars are converted at an exchange ratio of 1.33.Highlights of the PFS Pre-tax Internal Rate of Return (\"IRR\") of 64% at $1250/oz gold and $16.50/oz silver, 59% post-tax; 76% pre-tax IRR with $1350/oz gold and $17.82/oz silver prices, 71% IRR post-tax. Average Life of Mine (\"LOM\") cash operating costs of $601/oz gold equivalent (\"AuEq\") recovered and all-in sustaining costs (\"AISC\") of $813/oz gold equivalent LOM. Pre-tax Net Present Value at a 5% discount rate (\"NPV-5\") of $37.7 million (Cdn$50.1 million) at $1250/oz gold and $16.50/oz silver, $30.1million post-tax; $46.1 million pre-tax NPV-5 (Cdn$61.3 million) with $1350/oz gold and $17.82/oz silver prices, $35.7 million post-tax. Post-tax Project pay-back period of approximately twenty-four months and a mine life of seven years after a three month ramp up and construction phase. LOM gold production is estimated to be 108,000 ounces of gold and 1,137,000 ounces of silver for a total of 122,000 AuEq ounces. Total Diluted Proven and Probable Reserves of 1,030,000 tonnes grading 4.10 gpt Au (136,000 ounces Au) and 104.08 gpt Ag (3,445,000 ounces Ag), or 154,000 AuEq ounces at a grade of 4.66 gpt AuEq. Total Measured and Indicated Resources of 1,470,000 tonnes, grading 4.72 gpt Au (223,000 ounces Au) and 109.5 gpt Ag (5.18M ounces Ag) equal to 246,000 AuEq ounces (5.21 gpt AuEq). Inferred Resources totaled 613,000 tonnes, grading 3.91 gpt Au (77,0000 ounces Au), and 139.7 gpt Ag (2.75M ounces Ag) equal to 89,000 AuEq ounces. The reported Resources are inclusive of the Mineral Reserves.\"PPX is excited to complete this important step in advancing the Igor Project and Mina Callanquitas towards pr...