Heemskirk proves its mettle
PERTH (miningweekly.com) – A scoping study into the Heemskirk tin project, in Tasmania, has estimated that the project would require a capital investment of A$57-million to produce some 24 000 t of tin-in-concentrate
ASX-listed Stellar Resources on Tuesday told shareholders that over its 11-year mine life, the project will produce more than 3.6-million tonnes of ore, generating revenues of A$691-million.
The scoping study estimated a pre-tax net present value of A$83-million, and an internal rate of return of 45%, with a pay-back period of three years, based on a tin price of $20 000/t.
“The scoping study shows that Heemskirk is a very robust project with a low pre-production capital cost and an all-in operating cost of $13 100/t tin. The project is expected to be profitable through-out the tin price cycle and has a cost structure that is comparable to neighbouring Renison Tin, Australia’s largest and longest-lived tin mine,” said Stellar MD Peter Blight.
He noted that the development of the near-surface Queen Hill deposit also meant that ore could be delivered to the mill within six months of starting the decline, with initial sales to occur within another three months.
Having a processing plant at Heemskirk also provided Stellar with an opportunity to develop the St Dizier deposit.
“The scoping study has shown that the Heemskirk tin project has attractive economics and remains robust within the majority of tin price and exchange rate scenarios considered in our sensitivity analysis. The next step for Heemskirk, subject to funding, is to convert the remaining inferred mineral resource to an ore reserve and complete a prefeasibility study.”
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