Euro Sun Releases Positive PEA for Rovina

Euro Sun Mining (TSX:ESM,OTC Pink:CPNFF) has announced the results of the preliminary economic assessment for the exploitation of the COLNIC open pit; the initial phase of development of its Rovina Valley gold and copper project in Romania.

The company said it was applying a staged, multi phase development approach for the Rovina Valley project.

As highlighted in the press release:

• Average annual gold equivalent production of 139,000 ounces
• COLNIC production of 1,675,000 Gold Equivalent ounces (1,301,000 ounces gold) over 12 years average
• AISC of US$752/oz (net of copper credit)
• Processing rate of 20,000 tonnes per day incorporating flotation and dry stack tailings deposition
• Pre-Tax NPV 5 percent of US$218.1 million with an IRR of 15.4 percent and post-tax NPV 5 percent of US$168.8 million with an IRR of 13.5 percent at US$1,325/oz gold and US$3.10/lb copper
• Initial capital costs of US$339.7 million (total CAPEX of US$352 million)
• Average metallurgical recoveries of 82 percent for gold and 89 percent copper without utilizing cyanide

CEO of Euro Sun, Scott Moore said:

“The 2019 PEA highlights a positive economic project for our initial phase of development at the Rovina Valley project. Colnic is an at surface open pit deposit containing only 28.6 percent of the total measured and indicated resources at the Rovina Valley project. Colnic will form the foundation of a multi-decade operation with the expectation of bringing the Rovina pit on-line using pre-installed infrastructure followed by the Ciresata deposit.”

Click here to read the full Euro Sun Mining (TSX:ESM,OTC Pink:CPNFF) press release.