Trigon Metals Releases Feasibility Study on Namibia Copper Mine

Trigon Metals (TSXV:TM) has announced the results of its feasibility study prepared by Minxcon Ltd on the surface mining areas of the company’s Kombat operations located in northern Namibia.

As quoted in the press release, president and chief executive officer of Trigon, Stephane Theron said:

“The completion of the feasibility study is a major milestone for the company and its stakeholders. We are extremely pleased with the positive results and look forward to taking the next steps towards production and further development. We have submitted the feasibility study results to our offtake and project finance partner and expect sign off and the availability of the funding facility in the near term.”

As highlighted in the press release:

• Positive feasibility study confirms phase 1 of the restart program to self-fund mill refurbishment and the reopening of the AFW shaft
• Robust base case after tax IRR of 103.4 percent
• Start-up capital cost for the Kombat open pits of US$6.4 million, includes US$4.7 million for plant refurbishment
• In 2020, 10.7 million pounds of copper produced, generating projected revenue of US$30.7 million, at a copper price of US$3.10 per pound and a C1 cash cost of US$1.85 per pound (base case)
• Base case free cash flows of US$5.7 million (US$7.7 million, at a high case copper price of US$3.28 per pound) to be utilized to fund exploration at AFW underground mine to achieve life of mine strategy
• Offtake and project finance facility (announced in September 2017) to be finalized on the back of the feasibility study submission to the lender
• Pre-feasibility study for the underground reopening to be completed in near term

Click here to view the full Trigon Metals (TSXV:TM) press release.