15th Oct 2020 20:25
Adriatic Metals PLC - Cheltenham-based exploration & development firm - Reports pre-feasibility study results from Vares silver project in Bosnia & Herzegovina. Results include post-tax net present value of USD1.04 billion at 8% discount rate. Internal rate of return 113%, low upfront capital USD173 million with 1.2 years payback. Average annual earnings before interest, tax, depreciation, and amortisation in years 1 to 5 USD251 million. Probable ore reserves mined over 14-year mine life 11.1 million tonnes, annual throughput 800,000 tonnes with 88.5% conversion of indicated resources to ore reserves at Rupice.
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By Anna Farley; [email protected]
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