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Panoro: PEA pegs NPV of US$225M, IRR of 15.1% for Antilla copper-molybdenum project

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Panoro: PEA pegs NPV of US$225M, IRR of 15.1% for Antilla copper-molybdenum project

Panoro MineralsLtd. said May 2 that a preliminary economic assessment on the copper-molybdenum projectin Peru indicated a posttax net present value of US$225 million, at a 7.5% discountrate, and an internal rate of return of 15.1%.

Initial project CapEx is at US$603 million, including contingencies.Payback is in 4.1 years.

Sustaining CapEx stands at US$324 million, and closure costsat US$92 million.

The study, using a copper price of US$3.00 per pound, lookedat a conventional open pit mining and flotation processing operation. It is basedon an indicated resource of 291.8 million tonnes at 0.34% copper and 0.009% molybdenum,and an inferred resource of 90.5 million tonnes at 0.26% copper and 0.007% molybdenum.

There is also "good" potential for discovery of additionalmineralization adjacent to the current mineral resource area, the company said.

Design throughput is at 40,000 tonnes per day with an operationallife of mine of 24 years.

Payable production per year is seen at 81.0 million pounds ofcopper and 1.9 million pounds of molybdenum, with C1 cash costs of US$1.83 per poundof payable copper, bringing total output over the mine's life at 1.94 billion poundsof copper and 44 million pounds of molybdenum.