Western Copper and Gold CEO Paul West-Sells: Feasibility Establishes Robustness of On line casino Challengeyoutu.be
Western Copper and Gold (TSX:WRN,NYSEAMERICAN:WRN) launched the outcomes of a feasibility examine on its wholly owned On line casino copper-gold-molybdenum deposit in Yukon, Canada. Western Copper and Gold CEO Paul West-Sells believes that the timeline for the undertaking is excellent to get into manufacturing when copper demand is predicted to rise.
Based on West-Sells, the feasibility examine is one thing the corporate may be very pleased with as a result of it establishes the robustness of the undertaking.
“The reserves for each the mill and the heap leach are round 1.4 billion tonnes, which offer economics,” he mentioned. “We’re exhibiting a C$2.3 billion web current worth (8 p.c) and 18.1 p.c inner fee of return, each after tax. It additionally signifies a really vital cashflow over the primary 4 years of C$951 million per 12 months.”
The examine plans for On line casino to be constructed as an open-pit mine with a concentrator processing 120,000 metric tons per day (MT/d) to recuperate copper, gold, molybdenum and silver, in addition to a 25,000 MT/d oxide heap leach facility to recuperate gold, silver and copper. The bottom-case growth contemplates a 27 12 months mine life with steel costs of copper at US$3.60 per pound, gold at US$1,700 per ounce, silver at US$22 per ounce and molybdenum at US$14 per pound.
The timeline, in response to West-Sells, was an essential step to getting the corporate’s utility in entrance of the regulator in a 12 months.
“We’re speaking about three to 4 years from now to once we can start development on the mine by 2026,” he mentioned. “We get the primary manufacturing out of the heap leach within the second half of this decade. Then we’re going to be bringing this mine on-line by 2025, when there’s going to be only a actual dearth of copper on the market. The timing strains up actually, actually properly.”
Watch the complete interview of Western Copper and Gold CEO Paul West-Sells above.
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