Phoenix Copper (LSE:PXC) | RNS | Phoenix Copper Ltd - Debt facility to accelerate development of Empire proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Phoenix Copper Ltd (AIM: PXC, OTCQX: PXCLF), the AIM quoted North American focused base and precious metals emerging producer and exploration company, is pleased to announce that it has completed a new economic model for the Empire Mine open pit project in Idaho, USA to recover copper, zinc, gold and silver. - Copper led US mining operation with production targeted for 2022 - The updated Economic Model ( EM ) for the Empire Mine open pit project indicates strong cashflow and rapid payback in less than two years - 10-year Life of Mine ( LOM ) processing a total of 14.3 million tonnes Measured & Indicated ( M&I ) ore at a 0.5% copper cut-off grade
Phoenix Copper (LSE:PXC) | RNS | Phoenix Copper Ltd - Empire Mine Open Pit updated economic model proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
IN BRIEF: Phoenix Copper Completes Updated Empire Mine Economic Model
Tue, 16th Feb 2021 18:01
Phoenix Copper Ltd - North American-focused base and precious metals explorer - Completes updated economic model for the Empire Mine open pit project in Idaho, US which indicates strong cashflow and rapid payback in less than two years. Model shows 10-year life-of-mine processing a total of 14.3 million tonnes measured & indicated ore at a 0.5% copper cut-off grade. Notes life-of-mine revenue of USD784 million, producing average annual production of 8,550 tonnes of copper, 1,970 tonnes of zinc, 17,235 ounces of gold and 680,050 ounces of silver. The updated EM shows an impressive starter operation that delivers revenue of USD784 million with a pre-tax 7.5% NPV of USD105 million and an IRR of 57%. This significant increase in the NPV from the previous EM (August 2019) is a product of increased M&I resources, a higher head grade for copper, the use of ATS to recover gold and silver,
Phoenix Copper Limited is a North American focused, base and precious metal explorer and developer, which has carried out a drilling programme and generated a copper, gold, silver and zinc resource on which it is carrying out a feasibility study to bring the historically producing Empire Mine in Idaho, USA, back into production. It is also evaluating the silver and gold resources around three other past producing mines within the 23 km 2 Empire claims block as well as cobalt in two claims blocks north of Empire in Idaho. Phoenix s primary operations are focused near Mackay, Idaho in the Alder Creek mining district. This district includes the historical Empire, Horseshoe, White Knob and Blue Bird Mines, past producers of copper, gold, silver, zinc, lead and tungsten from underground mines in the first half of the twentieth century. Additionally, the district includes Navarre Creek a Carlin-trend gold discovery which hosts a 6.1 km gold s