North River Completes Definitive Feasibility Study for Namib Mine

North River Resources plc (LSE:NRRP) completed a definitive feasibility study for its Namibia-based Namib lead-zinc-silver mine, commenting that it points to a “[r]obust economic model” and a strong internal rate of return at consensus metals prices.

As quoted in the press release:

• Maiden Mineral Ore Reserve of 585,000 tonnes at 6.2% zinc, 2.9% lead, and 46ppm silver
• Further significant cost savings and improvements to the economic model are anticipated as the project moves to the implementation phase
• 13 month schedule to bring mine back into production
• Annual throughput of 250,000 tonnes at an average grade of 9% (Pb+Zn) producing 19,100 tonnes of metal in concentrate
• 280,000 ounces per annum silver by-product
• Initial mine life of 3.5 years (including ramp up and ramp down) and resources equivalent to five years of mine life
• The resource expansion programme is continuing and it is anticipated that the mine life will grow further over the coming year

Click here to read the full North River Resources plc (LSE:NRRP) press release.