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Arianne Resources (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) has filed its interim financial statements for the quarter ended September 30, 2012. In the third quarter, the Company completed its Pre-Feasibility Study Update, closed secured financing of $11 million with minimal dilution, and made significant advances in the Environmental Impact Assessment (EIA).
As quoted in the press release:
- The Pre-Feasibility Study Update (PFSU) was completed. The report confirms that a 3 million t/yr phosphate concentrate mine production scenario will have a 23.2% IRR and a 3.9 year capital payback on a pre-tax basis. These results do not include resource estimates for the additional mineralization identified by drilling programs completed since the end of 2011. That drilling confirmed the increased strike length of Paul Zone mineralization from 1.3 km to 2.7 km.
- Closed secured financing of $11 million with minimal dilution.
- The Company launched its Feasibility Study (FS) by contracting with Cegertec WorleyParsons. Significant progress has been made, with the completed FS expected in the second half of 2013.
- Metallurgical testing of Paul and Manouane Zone ores advanced significantly. Jacobs Engineering has been contracted to validate all previous metallurgical work and further optimize the design of the proposed Lac-a-Paul facilities. Jacobs has received over 50 tons of ore samples and is expected to complete bench scale testing by year end. Completion of pilot scale testing and the final engineering report is expected mid -2013.
- Significant advances in the Environmental Impact Assessment (EIA) were made with the preliminary version of the EIA expected to be submitted in the first half of 2013.
• A third round of meetings was held with local community members and leaders of regional municipalities to inform them of progress with the Project. This regional consultation process will continue in 2013.
Click here to read the Arianne Resources (TSXV:DAN,FWB:JE9N,OTCBB:DRRSF) press release
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