Forsys Metals Corp Increases NPV Estimates With Completion of ECS for Norasa

Forsys Metals Corp (TSX:FSY) announced that the Engineering Cost Study on its planned Valencia process plant for their consolidated Norasa uranium project in Namibia is completed.

As quoted in the press release:

Engineering Cost Study Highlights

• Differential NPV estimates increased by US$348m¹ before tax.

• Opex is significantly reduced from the adjusted 2010 engineering cost study (in 2013 dollars).

• Capex for the process plant is cost-effective at US$249.7m.

• Leach residence time reduced significantly by 30%.

Forsys’ CEO, Marcel Hilmer, said:

We are very pleased to have delivered a positive engineering cost study which highlights many positives for the Norasa Uranium Project. It constitutes an important component for the completion of a feasibility study, which is planned for release by year’s end. As a consequence of the positive study, we are now accelerating the drilling programs at Valencia East and Valencia North with a strategy to release an updated mineral resources statement in Q3 2013.

To view the whole press release, click here.