George Salamis, President and CEO of Edgewater Exploration Ltd., announceD results of a Preliminary Economic Assessment (“PEA”) on its 100%-owned Corcoesto gold project in Galicia, Spain.
As quoted in the press release:
As quoted in the press release:
Base Case Highlights
Average Annual Gold Production 102,000/oz Average Annual Net Revenue (US$) 60.0 Million Life of mine Net Present Value (NPV)(US$)(5%) 206 Million Pre-Tax Internal Rate of Return (IRR) 24% Pre-Tax Payback (years) 3.4 Initial Open pit and underground Capital Cost (US$) 135 Million Average Annual Cost (US$/oz) 713 Combined open pit and underground operation 9.9 year mine life
Edgewater Exploration Ltd., President & CEO, George Salamis, said:
“Our efforts over the past 16 months have been focused on growing the Corcoesto resource and optimizing value for our shareholders while ensuring we follow the highest standards of environmental stewardship at Corcoesto. We are very excited with the outcome of the PEA and believe we will continue to add more value as we move into the next phase of the project. The permitting process is now well underway and will be based on the design in this PEA. “
Click here to read the Edgewater Exploration Ltd. (TSXV:EDW,,QTCQX:EDWZF) press release
Click here to see the Edgewater Exploration Ltd. (TSXV:EDW,,QTCQX:EDWZF) profile.
MARKETS
COMMODITIES
| Commodities | |||
|---|---|---|---|
| Gold | 1857.66 | -9.63 | |
| Silver | 21.91 | -0.22 | |
| Copper | 4.25 | -0.05 | |
| Palladium | 2007.17 | +10.18 | |
| Platinum | 947.36 | -8.64 | |
| Oil | 110.83 | +1.06 | |
| Heating Oil | 3.71 | +0.05 | |
| Natural Gas | 8.80 | +0.01 | |