Name of the Project
Sisson tungsten/molybdenum project.

Location
New Brunswick, Canada.

Client
The Sisson Partnership, comprising Northcliff (a Hunter Dickenson affiliate) and New Zealand-based Todd Minerals.

Project Description
A feasibility study completed on the Sisson project has confirmed the long-life openpit tungsten and molybdenum development as a technically and economically robust project.

The project hosts a 334-million-ton proven and probable reserve, containing 22.2-million-ton units of tungsten trioxide and 154.8-million pounds of molybdenum.

The mine will be developed as an efficient bulk tonnage operation with mine facilities, including an openpit, ore processing plants, a tailings storage facility and ancillary buildings.

An ammonium paratungstate (APT) plant will also be built at the project site.

Potential Job Creation
The project is expected to create 500 jobs during the construction phase and another 300 permanent jobs over the 27-year life of the mine.

Net Present Value/Internal Rate of Return
The January 2013 feasibility study estimated a pretax net present value, at an 8% discount rate, of C$714-million and an internal rate of return of 20.4% with a 4.1-year payback.

Value
Initial capital expenditures to construct the mine, processing facilities and primary and secondary infrastructure are estimated at C$579-million.

Duration
Not stated.

Latest Developments
Northcliff Resources is hoping for a timely conclusion of the amendment process of the applicable metal mining effluent regulations, in consultation with all stakeholders and led by Environment Canada and Climate Change, for its Sisson tungsten/molybdenum mine.

Since receiving a positive federal environmental-impact assessment in June last year, the partnership has been engaged in advancing various key permits needed for the next stage of development.

The focus at Sisson currently is to optimise the operation and reduce the capital and operating costs. The partnership is also now well advanced in its multiyear metallurgical optimisation programme.

Key Contracts and Suppliers
Samuel Engineering (feasibility study).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Northcliff Resources, tel +1 604 684 6365,fax +1 604 684 8092 or email info@hdimining.com.