Manganese X Energy Corp. reported results of their Preliminary Economic Assessment (PEA) on the Battery Hill Manganese project near
The study indicates, as well as much more detailed information, as reported in the Manganese X press release:
- a 25% internal rate of return (IRR);
- an after-tax net present value (NPV) at a 10% discount rate of
$486 million ; - an average annual gross revenue of
$177 million per year over a 47-year project life; - a life of mine (LOM) operating cost (OPEX) of
$122 per tonne of material processed.
A base case market price of
Globex retains a one percent (1%) Gross Metal Royalty (including manganese compounds) on the project and a large share holding in Electric Royalties Ltd. (ELEC-TSXV) which have a two percent (2%) Gross Metal Royalty (including compounds) on the project.
(Note: Production royalties are only payable upon production)
Also, Orford Mining Corporation, in a press release dated
- Confirmation of the location of the Historical “South Gold” mineralization system on the Joutel Eagle Property;
- Grades of up to 10.8 g/t Au over 0.84 metres included in a wider interval were intersected in drill hole 22-JE-002. This is higher than those reported historically from the system in nearby hole 82-02 which reported up to 5.5g/t Au over 1.43 metres from 170.32 to 171.75 metres;
- Higher grade sections are associated with quartz veining occur within broader lower grade intervals with abundant disseminated sulphides. Such intervals include 9.35 metres grading 2.20 g/t, and 7.13 metres grading 1.70 g/t in hole 22-JE-002.
This press release was written by
We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 | |
For further information, contact: | |
President & CEO 86, 14th Street | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of
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