Highlights of the Zgounder Silver Mine PFS Study include:
- An anticipated mine life of 6 years with the current established reserves and an internal rate of return of 128 per cent;
- Net present value of US$27.9 million (discounted at 6.5 per cent) at a silver price of US$20.50 per ounce;
- First year silver production of 582,600 ounces, followed by two years at 885,400 ounces, and the final three years at 914,000 ounces per year;
Management’s Discussion and Analysis For the three months ended March 31, 2016
- Mill feed grade estimated at 317 g/t Ag;
- Total operating cost of US$109.50 per tonne (averaged over the expected mine’s life);
- Additional capex requirements totalling US$3.8 million, which include the proposed concentrator expansion;
- The Zgounder PFS was prepared strictly for an underground mine and based solely on the measured and indicated mineral resources reported on February 19, 2014.