Nordic Mines AB: New Scoping Level Preliminary Economic Assessment for the Laiva project after updating of the Mineral Resource Estimate
(Thomson Reuters ONE) -
The English text is an unofficial translation of the Swedish original, and in
the event of any discrepancies between the Swedish text and the English
translation, the Swedish text shall take precedence.
Nordic Mines AB (publ) ("Nordic Mines" or the "Company") has prepared a new
Scoping Level Preliminary Economic Assessment for the Laiva Project ("Laiva" or
the "Project") (the "Assessment") following the publication of a new Mineral
Resource Estimate on May 17, 2016. The reported Assessment is compliant with the
current standard of the Fennoscandian Review Board.
Base Case
* Project Net Present Value ("NPV") of EUR 77 million[1]
* Total gold production of 529 thousand tr.oz over 7 year Life-of-Mine ("LoM")
* Expected total operating cash costs of USD 890 (EUR 787) per tr.oz,
indicating that Laiva is capable of being restarted and operated on a long
term basis at a broad range of commodity prices
The Assessment relies upon the updated JORC Code 2012 compliant Mineral Resource
Estimate as of May 2016 (press release May 17, 2016) and quantifies the revised
operating costs for the Laiva project. The Assessment and the updated Mineral
Resource Estimate are both based upon the new sorting strategy developed by the
Company's management during the last few months.
For additional information, please contact:
D. Saradhi Rajan, CEO: +44 743 271 1564
Peter Kuiper, Head of Development, +46 70 567 6444
For more information about Nordic Mines, please visit; www.nordicmines.com
The information above has been made public in accordance with the Securities
Market Act and/or the Financial Instruments Trading Act. The information was
published at 03.30 p.m. (CET) on May 25, 2016.
Nordic Mines is a Nordic mining and exploration company. The Laiva mine in
Finland produced gold between 2011 and 2014. The deposit is among the largest in
the Nordic region. Nordic Mines is a member of SveMin and applies its reporting
regulations for public mining and exploration companies. The Nordic Mines share
has been admitted for trading on Nasdaq Stockholm's Small Cap list. Also refer
to www.nordicmines.com
--------------------------------------------------------------------------------
[1] Assuming a long-term gold price of USD 1,250 (EUR 1,105) per tr.oz and a
Discount Rate of 6%.
Press release (PDF):
http://hugin.info/138647/R/2015490/747274.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic Mines AB via GlobeNewswire
[HUG#2015490]
Unternehmensinformation / Kurzprofil:
Datum: 25.05.2016 - 15:30 Uhr
Sprache: Deutsch
News-ID 473584
Anzahl Zeichen: 3279
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 286 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Nordic Mines AB: New Scoping Level Preliminary Economic Assessment for the Laiva project after updating of the Mineral Resource Estimate"
steht unter der journalistisch-redaktionellen Verantwortung von
Nordic Mines AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
