MagIndustries Files Update to N1 43-101 for Mengo Permit Area, Congo

MagIndustries Corp. (TSX:MAA) has filed an update for its National Instrument 43-101 Technical Report entitled Update of the NI 43-101 Technical Report for MagMineral’s Mengo Permit Area, Kouilou Region, Republic of Congo with respect to the property owned by its 90 percent owned subsidiary MagMinerals Potasses Congo SA. as outlined in MagIndustries’ press release dated November 14, 2013.

As quoted in the press release:

The update announced today arises because during the preparation of the original technical report incorrect information was provided to ERCOSPLAN with respect to energy costs, a key input to calculating operating costs and therefore a material factor in determining the economic merits of the Project. Specifically, energy costs were overstated in the original technical report announced on November 14, 2013 because of a double counting of the natural gas requirement for process heat and on-site co-generation of electricity. On the basis of the data then available operating costs before sustaining capital expenditures were estimated to be US$109.81 per tonne of production. On the basis of the corrected data operating costs are estimated to be US$75.97 per tonne.

Click here to read the MagIndustries Corp. (TSX:MAA) press release

Get the Latest Potash Investing Stock Information

Get the latest information about companies associated with Potash Investing delivered directly to your inbox.


By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Potash Report small 

Get Our Expert Guide to Potash Investing FREE!

  Download this FREE Special Report, What is Potash? From Types of Potash to Potash Stocks

Leave a Reply