Name and Location
Calingiri copper project, Australia.

Client
Caravel Minerals.

Project Description
The Calingiri project comprises 17 tenements covering 760 km², in Western Australia, and entails the development of a new copper mine and minimal infrastructure.

A scoping study has confirmed the project as technically and financially robust. It envisages the co-development of the Bindi, Dasher and Opie deposits.

Intrinsic to the project is the construction of a standalone 15-million-tonne-a-year processing facility. The proposed process flowsheet comprises the crushing and stockpiling of ore; grinding; flotation; concentrate handling; molybdenum recovery; tailings disposal; reagent mixing, storage and distribution; water and power supply; and other services.

The study estimates an initial 20.7-year mine life for 710 000 t of copper produced and will be assessed fully in a detailed prefeasibility study (PFS).

A production rate of between 60-million pounds a year and 92-million tonnes a year of copper is estimated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 7% discount rate, of A$800-million and an internal rate of return of 31%, with a payback of three years.

Value
The project has a low preproduction cost of A$440-million.

Duration
Not stated.

Latest Developments
A detailed PFS is expected to be com-pleted in the first half of 2017.

Following the delineation of ore reserves, the Caravel board will, in conjunction with its partners, proceed to a definitive feasibility study and determine a project construction timeline dependent on prevailing market conditions.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Caravel Minerals, tel + 61 8 9426 6400, fax + 61 8 9426 6448 or email mail@caravelminerals.com.au.