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Energizer Resources (TSX:EGZ,OTCBB:ENZR) released results of a feasibility study for its Molo graphite deposit in Madagascar. The project is set to produce an average of 53,017 tonnes of graphite concentrate per year over a 26 year mine life.
As quoted in the press release:
The FS considers a mine that will produce an average of 856,701 tonnes per annum of ore, which is processed to produce an average of approximately 53,017 tonnes of graphite concentrate per annum (production commencing in 2017) over the 26 year life of mine (“LOM”). The FS assumes that the mine is funded on a 50% debt and 50% equity basis. ‘Steady State’ (or “Run Rate”) costs are achieved in the third operational year onwards; the difference lies in additional expatriates on site in the first two years.
Additional highlights of the study include:
Energizer CEO, Richard Schler, said:
Completion of the feasibility study is a significant milestone along the development path of our Molo graphite project. We have now confirmed that our project is economically viable with a planned mine design that we believe is both conservative and realistic. It indicates the project has attractive economics and that we have one of the lowest operating costs in the industry. Our graphite deposit is large enough to realize a very long mine life and the plant is scalable so we can quickly ramp up production if so required.
Click here to read the Energizer Resources Inc. (TSX:EGZ,OTCBB:ENZR) press release
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