DAILY NEWS Jan 30, 2013 4:16 PM - 0 comments

FLUORSPAR: New PFS completed for St. Lawrence project

TEXT SIZE bigger text smaller text
2013-01-30

NEWFOUNDLAND – Canada Fluorspar Inc. (CFI) of Toronto has completed a preliminary feasibility study for reopening its St. Lawrence fluorspar mine on the Burin Peninsula. The project is a joint ventures of CFI (50%) and French chemical manufacturer Arkema.

The PFS is based on updated capital and operating costs and the existing resource estimate. A 131,000-t/y project has pre-tax net present value (5% discount) of $124 million and internal rate of return of 15.4%. Adding 10% to the base case price assumption bumps the NPV up to $182 million and the IRR to 21.1%. In either case it will cost $154 million to build the facility and cash operating costs per tonne of ore processed will be $78.61.

CFI says the project includes underground development of two previously mined veins, upgrades to the existing mill, design and construction of a new tailings management facility, and design and construction of a new marine terminal. The two veins have a combined indicated resource of 9.09 million tonnes grading $42.0% CaF2 and an inferred resource of 950,000 tonnes grading 31.1% CaF2.

Visit CanadaFluorspar.com to read the entire 43-101 report when it is posted shortly.



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Canadian Mining Journal has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields