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Temas Resources Announces Positive Preliminary Economic Assessment for Piskanja Boron Project
VICTORIA, British Columbia / Jun 27, 2022 / Business Wire / Temas Resources Corp. (“Temas” or the “Company”) (CSE: TMAS) and their partner Erin Ventures Inc. (T
About this update from Temas Resources Corp.
[{"type":"text","content":"VICTORIA, British Columbia / Jun 27, 2022 / Business Wire / Temas Resources Corp. (“Temas” or the “Company”) (CSE: TMAS) and their partner Erin Ventures Inc. (TSXV: EV) are pleased to report positive results of an Independent Technical Report and Preliminary Economic Assessment (“PEA”) for the Piskanja boron project located in Serbia. PEA HIGHLIGHTS Post-tax Net Present Value (NPV10%) $524.9 million Post-tax IRR 78.7% Initial capital cost (Capex) (including 30% contingency) $79.9 million Capex payback from commercial production 12 months Life of Mine (“LOM”) 16 years Gross Project Revenue $2.02 billion Net Project Cash Flow (post-tax) $1.21 billion Average Annual Gross Revenue $126.0 million LOM average annual EBITDA $91.3 million Net operating margin 72.4% Post-tax Operating Cost per t of product $167.45 Weighted average revenue per t of product $514.02 LOM Sustaining Capital (including 30% contingency) $50.8 million LOM average gross production 305,304 tonnes Profitability Index (NPV/Capex) 6.57X (post-tax) LOM Capital Intensity Index (Initial Capex/ROM tonnage) $16.36 LOM average C1 (cash operating) cost (run-of-mine production) $91.95/t Average annual production (sales grade) colemanite 258,272 t Average annual production of boric acid 25,000 tonnes LOM average C1 cost (colemanite) post-tax $154.50/t LOM average C1 cost (boric acid) post-tax $340.70/t LOM mining production 4.88 million tonnes LOM average grade B2O3 34.57 % Good potential for resource expansion Note: All values in this news release are reported in U.S. dollars unless otherwise noted Assumed price/t (colemanite 40% B2O3) for LOM: US$500 Assumed price/t (boric acid, technical grade) for LOM: US$700 Units expressed in metric tonnes MINERAL RESOURCES The basis for the PEA is the Mineral Resource Estimate prepared by Prof. Miodrag Banješević PhD. P.Geo, EurGeol. The updated Mineral Resource Statement generated for the Piskanja Project is as followings: Resource Category Geological Resource (tonne) B2O3 % Contained B2O3 (tonne) Measured 1,391,574 35.59 495,251 Indicated 5,478,986 34.05 1,865,677 Measured + Indicated 6,870,560 34.36 2,360,928 Inferred 284,771 39.59 112,732 Reported at a cut-off grade of 12 percent B2O3, at a minimum mining thickness of 1.2 m, considering reasonable underground mining, processing and selling technical parameters and costs benchmark a...