The Amended Report dated
The technical report dated
- Amend the certificates of certain Qualified Persons who contributed to the technical report;
- Include customary cautionary statements regarding the economic analysis included in the technical report;
- Amend language regarding site visits by Qualified Persons and their reliance on other experts; and
- Remove certain cut-off scenarios from tables providing sensitivity to various cut-off grades in the technical report.
At the PEA base case of
Table 1 – Baptiste Project PEA Results and Assumptions (all in US$)
Results | |
Pre-tax NPV (8% discount rate) | |
Pre-tax IRR | 22.5% |
Payback period (pre-tax) | 3.5 years |
After-tax NPV (8% discount rate) | |
After-tax IRR | 18.3% |
Payback period (after-tax) | 4.0 years |
Net cash flows (after-tax, undiscounted) | |
C1 operating costs 1 | |
AISC costs 2 | |
Assumptions | |
Processing throughput | 120,000 tonnes per day |
Mine life | 35 years |
Life-of-mine stripping ratio (tonnes:tonnes) | 0.40:1 |
Life-of-mine average annual nickel production | 99 million lbs. |
Nickel price 3 | |
Baptiste product payability (% of nickel price) | 98% |
Pre-production capital expenditures | |
Sustaining capital expenditures | |
Exchange rate |
- C1 operating costs are the costs of mining, milling and concentrating, on-site administration and general expenses, metal product treatment charges, and freight and marketing costs less the net value of by-product credits, if any. These are expressed on the basis of per unit nickel content of the sold product.
- AISC of all-in sustaining costs comprise the sum of C1 costs, sustaining capital, royalties and closure expenses. These are expressed on the basis of per unit nickel content of the sold product.
- Nickel price is based on the average of six long-term analyst forecast prices.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that the conclusions or results as reported in the PEA will be realized.
The PEA was produced by a team of independent consultants who possess extensive expertise in their respective fields. Further details on the contributors can be found in the Qualified Persons section of the Company's news release dated
About the
The Company's
Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite, which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, the B target, the Sid target and Van target, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four. Since 2010, approximately US
Of the four targets in the
As reported in the current NI 43-101 resource estimate, having an effective date of
About
On behalf of
"Martin Turenne"
Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the
SOURCE
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