(via TheNewswire)
The Company may pay finder's fees in connection with the financing. Securities issued under the financing will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Company intends to use the proceeds for general working capital and for advancing its projects with a particular focus on the Trojarova Antimony-Gold project. Consequently, a significant portion of the capital raised will be used to produce a Preliminary Economic Assessment on Trojarova. The work will be undertaken by DMT and may require a preliminary exploration program, which will include re-opening and expanding the Trojarova adit.
Previous exploration programs onTrojarova undertaken in 1992under the Soviet system suggested that there was 0.831 million tonnes of resource at @5.645%Sb and 0.676g/t Au. The aim of this program would be to substantiate these findings. If successful,
More Information on the use of funds
Part of the funds raised will be used to advance Trojarova. The exploration program for Trojarova will be carried out byDMT Group Natural Resources Consulting Services(
Stage 1 – Data compilation, review and preparation 3D geological and block models of the deposit based on existing historic data
These models will be prepared to show the various veins and metals (antimony, and gold) so that a formal assessment of the deposit size and grade(s) can be made by DMT to assess the potential mining viability, ideally (assuming it is safe underground) samples are to be taken from locations that can be properly referenced within the structure of the ore body.
DMT will prepare a 3D geological model and a Mineral Resource Estimate based on a block model and following best industry practices. This model is expected to, inter alia, provide
In addition, the block model will assist in planning for a twinning or infill drilling program and most critically will inform
Stage 2 – Preliminary Economic Assessment
The PEA is an assessment of the mine/process plant viability (at a relatively high level) using the information from Stage 1 and will include base-case information on Capex for achieving production, Opex estimates on how the min/process plant would operate, recoveries, metal to be produced and potential sales values.
The PEA would include an outline mine plan and information on pre-production Capex, LoM sustaining capital, mine life and cash flow, as well as details on processing and production methods and rates.
Typically PEAs include information on project economics at various metal pricing levels, given that there are several “high value” metals contained in the raw ore.
In summary, the PEA will include a discounted cash flow financial model showing economic viability and key financial indicators (e.g. NPV, IRR, payback period, etc) using historic data and following either NI 43-101 or JORC guidelines.
Should the PEA prove the Project to be viable,
About DMT
With its roots dating back to 1737, DMT is a Tier 1, global engineering services and consultancy group with the aim of assessing the veracity and viability of mining and processing activities, and ultimately improving mine safety.
Today DMT has engineering and consulting companies on six continents, and is focused on mining, plant and process engineering, infrastructure and civil engineering, and natural resources in general.
Today DMT is the fulcrum of TÜV NORD GROUP’s minerals resources assets, has numerous officially recognised expert bodies and established working relationships with most of the accredited test laboratories, and employs more than 1,000 recognised experts globally.
About
For Additional Information Please Contact
Corporate Secretary
778.918.2261
Email:brooklyn@moltenmetalscorp.com
Non-Executive Director
604.838.2855
Email:hugh@nobocap.com
Forward-Looking Information
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "would", "may", "could" or "should" occur. Although Molten Metals believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, weather, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Disclaimer
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in
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