logo-loader

In the news: Metal Tiger

no_picture_pai.jpg

FROM THE BROKING DESK

We’ve had some more positive news from Metal Tiger*. The PFS for the open-pit, high-grade T3 Copper Project in Botswana has been completed; Metal Tiger owns 30% of this in a JV with the ASX-listed MOD Resources. In a ‘base case’ scenario, with production from Proven and Probable ore reserves and throughput of 2.5Mtpa, the PFS indicates about US$730m in EBITDA over nine years, and — were the expansion case to proceed — an EBITDA of US$1.1bn over 12 years. The JV partners have agreed to proceed with a feasibility study this quarter. Other headlines from the base case PFS were: a pre-tax NPV8% of US$281m, using a long-term US$3.00/lb Cu price, IRR of 39% and payback of 2.7 years.

As CEO Michael McNeilly pointed out, this PFS is “robust”. There’s no doubt that the T3 deposit is an extremely exciting prospect. I don’t think the market has seen a copper project this good for quite a while, and it’s also encouraging that the relationship with MOD is strong; the two parties are working well together to progress this. We should have a full piece out on this later.

 

In a separate announcement, Metal Tiger has now sold down its position in Kingsgate Consolidated Limited (KCN) to zero. This is the second sell-down in a week, and raised a further £1,973,209 for Metal Tiger. While the company may not have achieved all its ambitions with Kingsgate, it’s certainly proved a very lucrative bit of trading. 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fireweed Zinc reveals 'best ever' hole drilled at Macmillan...

  Fireweed Zinc Ltd (CVE:FWZ) CEO Brandon Macdonald tells Proactive the zinc explorer has posted encouraging drill results from the first hole this year at the Boundary Zone in Yukon, an area that could boost the Macmillan Pass project's resources and economics. Macdonald says the...

6 hours, 20 minutes ago

2 min read