Mindoro Commences Agata Nickel Pre-Feasibility Study

Mindoro Resources Ltd. (TSXV:MIO,ASX:MDO,FRAN:WKN 906167) reports they have started a pre-feasibility study for nickel at the Agata mine.

The press release is quoted as saying,

The study will be based on the Preliminary Economic Assessment( PEA) released on the 29th of March 2011 that indicated lowest quartile operating cost potential of US$2.64/Ni lb or US$1.65/Ni lb with cobalt and power credits. The PEA also showed after tax cash flow of US$173 million per annum and a robust Net Present Value (NPV) of US$386 million, calculated at 10% discount rate and US$10/lb nickel price.

For the complete press release, click here.