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Silver Tiger Announces PEA With NPV of US$287M for the Open Pit Portion of El Tigre Silver-Gold Project
HALIFAX, NS / ACCESSWIRE / November 1, 2023 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) ...
About this update from Silver Tiger Metals, Inc.
[{"type":"text","content":"Silver Tiger Announces PEA With NPV of US$287M for the Open Pit Portion of El Tigre Silver-Gold ProjectHALIFAX, NS / ACCESSWIRE / November 1, 2023 / Silver Tiger Metals Inc. (TSXV:SLVR)(OTCQX:SLVTF) (\"Silver Tiger\" or the \"Corporation\") is pleased to announce a Preliminary Economic Assessment (\"PEA\") for its 100% owned, silver-gold El Tigre Project (the \"Project\" or \"El Tigre\") located in Sonora, Mexico. The PEA is centered on the conventional open pit mining economics of the Stockwork Mineralization Zone defined in the updated MRE released September 12, 2023 (Figure 1).Highlights of the PEA, with a base case silver price of $23.75/oz and gold price of $1,850/oz are as follows (all figures in US dollars unless otherwise stated):After-Tax net present value (\"NPV\") (using a discount rate of 5%) of US$287 Million with an After-Tax IRR of 55.8% and Payback Period of 1.7 years (Base Case);13-year mine life recovering a total of 60 Million payable silver equivalent ounces (\"AgEq\") or 776,000 gold equivalent ounces (\"AuEq\"), consisting of 16 Million silver ounces and 571,000 gold ounces;Total project undiscounted after tax cash flow of US$445 Million;Initial capital costs of $59 Million, including $7.7 Million in contingency costs, over an expected 12-month build, expansion capital of $33 Million and sustaining capital costs of $31 Million over the life of mine (\"LOM\");Average LOM operating cash costs of $803/oz AuEq, and all in sustaining costs (\"AISC\") of $843/oz AuEq or Average LOM operating cash costs of $10/oz AgEq, and all in sustaining costs (\"AISC\") of $11/oz AgEq; andAverage annual production of approximately 4.6 Million AgEq oz or 59,000 AuEq oz.Glenn Jessome, President & CEO stated \"We are very pleased with the work completed by our consultants and our technical team on the PEA for the open pit at El Tigre. The open pit delivers robust economics with an NPV of US$287 million and substantial after tax cash flows of US$445 million.\" Mr. Jessome continued \"This is a pivotal point for our Company as we now have a clear path forward to quickly completing a PFS and making a construction decision for the open pit. The open pit has good grade, low strip, wide benches and exceptional metallurgy. With such positive parameters and with our new VP of Operations Francisco Albelais, a career expert in the cons...