Constantine publishes Alaska zinc/copper project PEA
TSX-V-listed Constantine Metal Resources has announced the results of a preliminary economic assessment (PEA) for its 51%-owned Palmer zinc/copper/gold/silver project, in south-east Alaska, demonstrating a “high-quality project with strong economics”.
CEO Garfield MacVeigh said on Wednesday that quality North American development-stage zinc/copper projects were in scarce supply, particularly projects with high operating margins and resilience to low metal price environments as demonstrated by the Palmer PEA.
The PEA returned a pretax $354-million net present value at a 7% discount rate and a 24% pretax internal rate of return, based on metal prices of $1.22/lb zinc, $2.82/lb copper, $16.3/oz silver and $1 296/oz gold.
At a mining and processing rate of 3 500 t/d, the Palmer mine will operate for 11 years, recovering a total of 1.07-billion pounds of zinc, 196-million pounds of copper, 18-million ounces of silver, 91 000 oz of gold and 2.89-million tonnes of barite.
The Palmer mine will require preproduction development capital of $278-million and will be repaid in 3.3 years.
"What sets the Palmer project apart from its peers is excellent access by paved all-season highway and secondary roads, close proximity to an existing Pacific port ore terminal, reasonable and manageable capital costs, significant district-scale upside for additional mineral resources, and a joint venture that includes a global leader in the zinc smelting business,” says MacVeigh.
Shares in Constantine rose more than 7% to close at C$0.56 apiece on Wednesday.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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