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Redhawk Resources, Inc. (TSX:RDK,OTCQX:RHWKF) announced results of the PEA from the Copper Creek Project.
Redhawk Resources, Inc. (TSX:RDK,OTCQX:RHWKF) announced results of the PEA from the Copper Creek Project.
As quoted in the press release:
PEA Highlights:
Pre-tax NPV of US$488 million at 7.5% Discount Rate and US$794 million at 5% Discount Rate and 16% IRR at US$3.30 copper over 18 year life of mine
Average total operating cash cost of US$1.74 per pound copper net of byproduct credits
Average annual production of 121.7 million pounds of salable copper (55,200 metric tons)
Production rate of 25,000 short tons per day mining and milling
Milling produces 30% copper concentrate and a separate molybdenum concentrate
92% copper recovery in flotation mill
Redhawk’s President and CEO, R. Joe Sandberg, said:
The results of the 2013 PEA confirm the economic potential of the Copper Creek Project and a successful growth in project scale from a 10,000 tpd operation in the 2009-2010 NI 43-101 Scoping Study to the 25,000 tpd operation in the current NI 43-101 PEA. Management believes there are several aspects of the PEA that can be further optimized based upon additional work. In addition, the drilling in 2010-2012 and the ongoing geologic work in the district suggests the potential for significant expansion of the existing resources and identification of several very large untested porphyry targets on the Redhawk controlled lands.
To view the whole press release, click here.
