Internal rate of return
|
25.4%
|
Payback period
|
2.49 years
|
Life of mine
|
11.1 years
|
Total V2O5recovered
|
114.6 million lbs
|
Average V2O5selling price
|
$10 per lb
|
Cash operating cost
|
$4.70 per lb V2O5
|
All-in sustaining cost
|
$6.04 per lb V2O5
|
Initial capital cost including 25% contingency
|
$147 million
|
Average grade
|
0.271% V2O5
|
Strip ratio (waste:leach)
|
0.18:1
|
Mining operating rate
|
9,700 tons per day
|
Total material leached
|
33.4 million tons
|
Average V2O5recovery through direct heap leaching
|
63.4%
|
Confidence Category
|
Domain
|
Cut-offV2O5 (%)
|
Tons(kton)
|
GradeV2O5 (%)
|
ContainedV2O5 (klb)
|
Measured
|
Oxide
|
0.101
|
3,960
|
0.251
|
19,870
|
Transition
|
0.086
|
3,980
|
0.377
|
29,980
| |
Indicated
|
Oxide
|
0.101
|
7,830
|
0.222
|
34,760
|
Transition
|
0.086
|
7,190
|
0.325
|
46,730
| |
Total Measured and Indicated
|
22,950
|
0.286
|
131,340
| ||
Inferred
|
Oxide
|
0.101
|
160
|
0.170
|
550
|
Transition
|
0.086
|
10
|
0.180
|
30
| |
Reduced
|
0.116
|
14,800
|
0.175
|
51,720
| |
Total Inferred
|
14,970
|
0.175
|
52,300
|
Confidence Category
|
Cut-offV2O5 (%)
|
Tons(kton)
|
GradeV2O5 (%)
|
ContainedV2O5 (klb)
|
Inferred
|
0.101
|
7,520
|
0.276
|
41,490
|
Area
|
ConfidenceCategory
|
Domain
|
Cut-offV2O5 (%)
|
Tons(kton)
|
GradeV2O5 (%)
|
ContainedV2O5 (klb)
|
North Area A
|
Inferred
|
Oxide
|
0.107
|
6,970
|
0.29
|
39,720
|
Transition
|
0.124
|
1,500
|
0.33
|
9,900
| ||
Reduced
|
0.139
|
9,080
|
0.39
|
70,580
| ||
Total North Area A
|
Inferred
|
All
|
Variable
|
17,540
|
0.34
|
120,210
|
South Area B
|
Inferred
|
Oxide
|
0.107
|
1,470
|
0.28
|
8,160
|
Transition
|
0.124
|
320
|
0.40
|
2,540
| ||
Reduced
|
0.139
|
510
|
0.30
|
3,100
| ||
Total South Area B
|
Inferred
|
All
|
Variable
|
2,300
|
0.30
|
13,810
|
Total
|
Inferred
|
All
|
Variable
|
19,850
|
0.34
|
134,020
|
Leach Material
|
Domain
|
Cutoff V2O5(%)
|
Tons ('000)
|
V2O5Grade (%)
|
Contained V2O5Lbs ('000)
|
Measured
|
Oxide
|
0.135
|
3,890
|
0.253
|
19,684
|
Transition
|
0.135
|
3,944
|
0.378
|
29,824
| |
Reduced
|
0.135
|
-
|
0.000
|
-
| |
Indicated
|
Oxide
|
0.135
|
6,246
|
0.240
|
30,024
|
Transition
|
0.135
|
7,056
|
0.316
|
44,624
| |
Reduced
|
0.135
|
-
|
0.000
|
-
| |
Total Measured and Indicated
|
21,136
|
0.294
|
124,156
| ||
Inferred
|
Oxide
|
0.135
|
116
|
0.174
|
403
|
Transition
|
0.135
|
-
|
0.000
|
-
| |
Reduced
|
0.135
|
5,183
|
0.163
|
16,919
| |
Total Inferred
|
5,299
|
0.163
|
17,323
|
Leach Material
|
Domain
|
Cut-off(%)
|
Tonnage(kton)
|
V2O5(%)
|
V2O5(klb)
|
Inferred
|
Oxide
|
0.155
|
6,963
|
0.282
|
39,315
|
Transition
|
0.155
|
-
|
0.000
|
-
| |
Reduced
|
0.155
|
-
|
0.000
|
-
| |
Total Inferred
|
6,963
|
0.282
|
39,315
|
Period
|
Total
|
Rock Waste
|
Oxide Leach
|
Transition Leach
|
Reduced Leach
|
Leach Total
|
V2O5
|
Contained
V2O5
|
ProducedV2O5
|
(kt)
|
(kt)
|
(kt)
|
(kt)
|
(kt)
|
(kt)
|
(% V2O5)
|
(mbls)
|
(mbls)
| |
YR1
|
3,002
|
2
|
2,573
|
424
|
2
|
3,000
|
0.298
|
17,877
|
10,915
|
YR2
|
3,072
|
72
|
2,025
|
974
|
1
|
3,000
|
0.320
|
19,221
|
12,297
|
YR3
|
3,117
|
117
|
766
|
2,185
|
50
|
3,000
|
0.401
|
24,059
|
16,293
|
YR4
|
3,096
|
96
|
2,423
|
577
|
0
|
3,000
|
0.227
|
13,602
|
8,638
|
YR5
|
3,081
|
81
|
1,096
|
1,862
|
42
|
3,000
|
0.281
|
16,881
|
11,252
|
YR6
|
3,011
|
11
|
395
|
2,158
|
447
|
3,000
|
0.292
|
17,519
|
11,824
|
YR7
|
5,943
|
2,943
|
641
|
1,817
|
542
|
3,000
|
0.224
|
13,447
|
8,926
|
YR8
|
4,232
|
1,232
|
308
|
960
|
1,732
|
3,000
|
0.178
|
10,657
|
6,409
|
YR9
|
3,203
|
203
|
591
|
44
|
2,365
|
3,000
|
0.187
|
11,214
|
6,121
|
YR10
|
3,067
|
67
|
3,000
|
0
|
0
|
3,000
|
0.364
|
21,857
|
12,999
|
YR11
|
4,191
|
1,191
|
3,000
|
0
|
0
|
3,000
|
0.218
|
13,057
|
7,922
|
YR12
|
518
|
121
|
397
|
0
|
0
|
397
|
0.177
|
1,405
|
870
|
YR13
|
101
| ||||||||
Total
|
39,533
|
6,136
|
17,215
|
11,000
|
5,183
|
33,397
|
0.271
|
180,794
|
114,568
|
Cost Description
|
Total ($000s)
|
Open Pit Mine
| |
Mobile equipment
|
122
|
On Site Infrastructure
| |
Site preparation
|
2,740
|
Roads
|
1,577
|
Water supply
|
2,263
|
Sanitary system
|
69
|
On-site electrical
|
2,325
|
Communications
|
187
|
Contact water ponds
|
186
|
Non-process facilities - buildings
|
8,594
|
Process Facilities
| |
Material handling
|
21,730
|
Heap leach system
|
22,033
|
Process plant
|
24,167
|
Off-Site Infrastructure
| |
Water system
|
5,095
|
Electrical supply system
|
3,657
|
First fills
|
975
|
Total Direct Cost
|
95,720
|
Construction indirect costs
|
5,355
|
Sales Tax/OH&P
|
5,333
|
EPCM
|
11,178
|
Contingency
|
29,396
|
Total Project Cost
|
146,982
|
Description
|
Total ($000s)
|
Leach pad expansions
|
23,069
|
Haul road to Louie Hill
|
814
|
Storm water controls Louie Hill pit/waste rock facility/roads
|
386
|
Equipment annual allowance
|
971
|
Total Sustaining Capital
|
25,240
|
Total Cash Operating Cost
|
$ per Ton Leached
|
$ per lb of V2O5Recovered
|
G&A
|
0.97
|
0.28
|
Mining Cost
|
3.36
|
0.98
|
Total Processing Cost
|
11.79
|
3.44
|
Total
|
16.12
|
4.70
|
V2O5Price Change
|
V2O5Price
|
After-tax IRR
|
After-tax NPV
|
After-tax Cashflow
|
(%)
|
(US$/lb)
|
(%)
|
(US$ M @ 7%)
|
(US$ M)
|
45
|
14.50
|
49%
|
377.0
|
671.5
|
30
|
13.00
|
42%
|
295.4
|
536.8
|
15
|
11.50
|
34%
|
212.3
|
399.7
|
Base Case
|
10.00
|
25%
|
127.9
|
260.8
|
-15
|
8.50
|
14%
|
42.1
|
122.3
|
-30
|
7.00
|
0%
|
(55.8)
|
(38.9)
|
-45
|
5.50
|
0
|
(155.1)
|
(202.0)
|
Grade Change
|
After-tax IRR
|
After-tax NPV
|
After-tax Cashflow
|
(%)
|
(%)
|
(US$ M @ 7%)
|
(US$ M)
|
45
|
48%
|
363.8
|
649.7
|
30
|
41%
|
286.6
|
522.2
|
15
|
34%
|
207.7
|
392.2
|
Base Case
|
25%
|
127.9
|
260.8
|
-15
|
15%
|
46.9
|
130.0
|
-30
|
0%
|
(45.2)
|
(21.4)
|
-45
|
0
|
(139.0)
|
(175.5)
|
CAPX Change
|
After-tax IRR
|
After-tax NPV
|
After-tax Cashflow
|
(%)
|
(%)
|
(US$ M @ 7%)
|
(US$ M)
|
45
|
14%
|
69.2
|
197.5
|
30
|
17%
|
89.2
|
218.6
|
15
|
21%
|
108.6
|
239.7
|
Base Case
|
25%
|
127.9
|
260.8
|
-15
|
31%
|
146.9
|
281.9
|
-30
|
38%
|
165.8
|
303.0
|
-45
|
0
|
184.7
|
324.1
|
Change
|
After-tax IRR
|
After-tax NPV
|
After-tax Cashflow
|
(%)
|
(%)
|
(US$ M @ 7%)
|
(US$ M)
|
45
|
8%
|
3.6
|
50.6
|
30
|
15%
|
49.2
|
128.5
|
15
|
21%
|
89.2
|
195.3
|
Base Case
|
25%
|
127.9
|
260.8
|
-15
|
29%
|
166.4
|
326.7
|
-30
|
33%
|
203.7
|
390.7
|
-45
|
0
|
239.9
|
452.6
|
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Disclaimer
Silver Elephant Mining Corp. published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 18:41:10 UTC.