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Mining Weekly reported that on Wednesday, shares of El Nino Ventures Inc. (TSXV:ELN) rose almost 17 percent following the release of a positive preliminary economic assessment for the company’s New Brunswick-based Murray Brook zinc-copper-lead-silver project.
Mining Weekly reported that on Wednesday, shares of El Nino Ventures Inc. (TSXV:ELN) rose almost 17 percent following the release of a positive preliminary economic assessment for the company’s New Brunswick-based Murray Brook zinc-copper-lead-silver project.
As quoted in the market news:
The PEA had found that the C$261-million project could have an after-tax net present value, when using a 5% discount rate, of $96.4-million and an internal rate of return of 11.4%, with a payback period of 5.4 years. The project would have a mill throughput of two-million tonnes a year.
‘The results of the PEA demonstrate the potential technical and economic viability of establishing a new mine and mill complex on the Murray Brook property,’ the company said.