True North Copper

True North Copper Mining Restart Study Confirms Positive Cloncurry Copper Project Economics

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to announce the completion of the Cloncurry Copper Project (CCP) Mining Restart Study. The initial CCP life-of-mine plan demonstrates a strong economic basis and low-risk cost structure, with significant cash flow generated during the CCP’s initial 4.6 year mine life.


HIGHLIGHTS

 
  • Mining Restart Plan: Mining 4.8Mt of ore over an initial 4.6 year mine life, at a low strip ratio of 4.2, delivering 35kt Cu and 29koz Au contained metal, based on existing JORC reserves1,2.
  • Revenue and Cash Flow: Anticipated mine revenue of A$367M with free cash flow of A$111M, and a pre-tax NPV10 of A$88M, demonstrating strong operating economics at USD$8,500/t Cu price and USD$1,850/oz Au price (0.7 A$:USD exchange rate) (see Table 1).
  • Rapid Payback and Low Cost: Payback expected within six months post-mining restart, driven by favourable commodity prices and low all-in sustaining cost (AISC) of USD$2.65/lb Cu (see Table 1).
  • Low Capex Requirement and Operational Efficiency: Low upfront capex of A$1.5M leverages existing infrastructure, while peak operating expenditure is estimated at A$2.2M.
  • Strategic Partnerships: Production focus on high-quality sulphide ore, supported by binding offtake agreements with Glencore International AG, ensuring market access3.
  • Ready to Commence: The Nebari facility provides funding for the restart, all necessary permits for mining are obtained, and final preparations are underway with the goal of restarting mining in the first half of 20244.
  • Expansion Potential and Ongoing Exploration: Significant potential for mine-life expansion beyond current plans, with exploration ongoing and advanced projects in strategic locations surrounding the existing operation, promising long-term growth prospects.
 

COMMENTS

 

True North Copper Managing Director, Marty Costello said:

Our Cloncurry Copper Project Mining Restart Study confirms a robust and sustainable mining operation that has capacity to generate substantial cash flow. Projected mine revenue is $367M with a free cash flow of $111M and we anticipate a rapid payback period of just six months post-mining restart. We believe our first life of mine plan demonstrates the project's sound economic foundations and low-risk cost profile.

Our strategic partnerships, including a binding offtake and toll-milling agreements with Glencore International AG, supported by debt funding secured with Nebari, underscore our operational readiness and position TNC to capitalise on what we believe is an extremely favourable copper market.

We are committed to extending the CCP mine life. We are actively pursuing exploration and expansion opportunities within the GAM and Wallace North deposits, alongside our strategic tenure package around Cloncurry.

We will also continue exploration and resource work at Mt Oxide as part of our core strategy for growth and production.


Click here for the full ASX Release

This article includes content from True North Copper, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


TNC:AU
The Conversation (0)
Osisko Metals (TSXV:OM)

Osisko Metals


Keep reading...Show less
Copper bars with weight stamps, stock market chart background.

What Was the Highest Price for Copper?

Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Team Expansion & Bulk Met Testing Commences

Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce several strategic technical appointments and partnerships that strengthen the in-house project development team and support the advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.

These appointments coincide with the commencement of bulk-scale metallurgical testing, a critical step in progressing Pitfield toward commercial development.

Keep reading...Show less
Cracked globe labeled "Tariffs" and "Sanctions" on a wooden surface.

Global Outcry Mounts Over Trump’s Tariff Blitz Ahead of Deadline

President Donald Trump’s surprise announcement of 30 percent tariffs on imports from the EU and Mexico has triggered immediate backlash from various stakeholders, with less than three weeks to go before the tariffs take effect on August 1.

The tariffs—part of a broader series of trade penalties that include duties on copper and new levies on Canada, Japan, South Korea, and Brazil—have drawn sharp criticism from some of the country's closest allies and trading partners.

Keep reading...Show less
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper's Trump Tariffs — Plus Gold Price, Uranium Opportunity

Lobo Tiggre, CEO of IndependentSpeculator.com, discusses the recent news that the US plans to put a 50 percent tariff on copper imports.

He also weighs in on gold, silver and platinum price drivers, as well as uranium stocks.

Keep reading...Show less
Metal pipes and bars obstructed by yellow "tariffs" tape with US flags.

Copper Soars to All-time High as Trump Unveils 50 Percent Tariff on Imports

US President Donald Trump said Tuesday (July 8) that he plans to impose a 50 percent tariff on all copper imports, a dramatic escalation of his administration’s use of targeted trade restrictions on national security grounds.

“I believe the tariff on copper, we're going to make 50 percent,” Trump said during a White House cabinet meeting.

Though he did not provide a timeline, Commerce Secretary Howard Lutnick said in a subsequent CNBC interview that the tariff could take effect by late July or as early as August 1, with details to be posted on Trump’s Truth Social account.

Keep reading...Show less

Latest Press Releases

Related News

×