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Geologix Explorations Inc. (TSX:GIX) provided an update on the current status of its Tepal project pre-feasibility study. As part of the later stages of the study, alternative processing procedures were proposed for the project.
As quoted in the press release:
In the later stages of the preparation of the PFS, a new engineering concept was proposed as an alternative processing procedure with the potential to optimize the project’s capital costs, operating costs, and production profile. Follow-up work to evaluate this alternative mine plan has been initiated as, in spite of delays to the completion of the PFS, it is in the best interest of the Company to adequately examine any potentially beneficial processes before completion of this important PFS report.
Geologix, President & CEO, Dunham Craig, commented:
In the process of the study, our consulting engineers have recommended review of several areas that offer potential benefit to the project. Although we recognize that delays have caused uncertainty for some investors, the primary purpose of this PFS is to accurately evaluate and understand the potential mine plan and economics in a manner that will permit the Company to subsequently advance from PFS to a Bankable Feasibility stage as efficiently as possible. The Company is also focused on attaining a study that is sufficiently detailed to be utilized in initiating project finance discussions with various potential third parties. We believe the additional time invested today will benefit the project and the Company in the future.
Click here to read the Geologix Explorations Inc. (TSX:GIX) press release
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