Endeavor restart to cost A$23.7m
PERTH (miningweekly.com) – A mine restart study for the Endeavor silver/zinc/lead mine, in New South Wales, estimates that the project will require a capital investment of A$23.7-million and could support an initial ten-year mine life with significant growth potential.
ASX-listed Polymetals Resources on Monday reported that the restart study estimated the project could produce its first concentrate by the second half of 2024, producing 210 000 t of payable zinc, 62 000 t of payable lead and 9.75-million ounces of payable silver.
The study estimated that the project could produce revenues of A$1.4-billion and earnings before interest, taxes, depreciation and amortisation of A$400-million, with life-of-mine free cash flows estimated at A$323-million.
The study estimated a pre-tax net present value of A$201-million and an internal rate of return of 91%.
“The delivery of the Endeavor mine restart study is the culmination of an immense body of work completed to a high level of confidence that can support a positive investment decision,” said Polymetals executive chairperson Dave Sproule.
“Bringing silver back into the revenue stream via our reset of the historic 100% silver streaming royalty has unlocked significant value at the Endeavor mine. The mine restart study shows a mining operation that makes swift payback of capital because of high operating margins and the restart nature of activity.
“We are well advanced in our negotiations to replace the Rehabilitation Bond which will complete Polymetals' acquisition of the project, as well as a finance facility to ensure coverage for peak negative cash drawdown,” said Sproule.
The results of the mine restart study have allowed Polymetals to declare an ore reserve of 5.6-million tonnes at Endeavor.
Comments
Research Reports
Projects
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
