Based on projected average annual metal production of 173 million ('M') pounds ('lb') (78,543 tonnes) copper, 31,395 ounces ('oz') gold ('Au'), and 703,588 oz silver ('Ag') for 28 years and an initial capital cost estimate ('CapEx') of
The NPV increases to
Commenting on the results, President and CEO
'The 2022 PEA presents an alternative business case for developing the
About
The Company's flagship project is Canariaco, within which Canariaco Norte, is the 10th largest late-stage copper resource in the world and 6th highest in grade (RFC Ambrian,
The Company is very pleased to now have Canariaco Norte included in 4 research reports that compare various global copper projects. RFC Ambrian: Canariaco Norte in top 10 of 23 projects with potential to involve third party M&A (
About Ausenco
Ausenco is a global company redefining what's possible. Its team is based across 26 offices in 14 countries, with projects in over 80 locations worldwide. Combining their deep technical expertise with a 30-year track record, Ausenco provides innovative, value-add consulting and engineering studies and project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas and industrial sectors.
This press release contains forward-looking information within the meaning of Canadian securities laws ('forward-looking statements'). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation: the results of the 2022 PEA, including the projected CapEx, the estimated after-tax NPV and IRR, the estimated mine life and estimated concentrate grades; the potential production from and viability of the
Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, variations in market conditions; the nature, quality and quantity of any mineral deposits that may be located; metal prices; other prices and costs; currency exchange rates; the Company's ability to obtain any necessary permits, consents or authorizations required for its activities; the Company's ability to access further funding and produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements.
Known risk factors include risks associated with exploration and project development; the need for additional financing; the calculation of mineral resources; operational risks associated with mining and mineral processing; fluctuations in metal prices; title matters; government regulation; obtaining and renewing necessary licenses and permits; environmental liability and insurance; reliance on key personnel; local community opposition; currency fluctuations; labour disputes; competition; dilution; the volatility of our common share price and volume; future sales of shares by existing shareholders and other risk factors described in the Company's annual information form and other filings with Canadian securities regulators, which may be viewed at www.sedar.com. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms defined in the 2014 edition of the
Contact:
Tel: +1 475 455 9401
Email: Jonathan.Paterson@HarborAccessllc.com
Web: www.candentecopper.com
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