Minto Explorations Ltd. Completes a NI 43-101 Preliminary Economic Assessment Technical Report (“PEA”) for its Minto Mine located in the Yukon Territory, Canada
In February 2021, JDS Engineering & Mining Inc. (“JDS”) was commissioned by Minto to prepare a Technical Report for the Minto Mine. We are pleased to share some of the highlights below and would encourage you to download and review the full report using the Link below.
Highlights
- Life of mine doubled from previously announced 4 years to 8 years taking the existing operation to 2028. During the Life of Mine the Mill Facility will process 10,893 kt of ore recovering an estimated 277 million tonnes of Copper (“Cu”).
- Total Resources have been increased from 22,554 kt to 24,105 kt with a resulting change in metal content being:
- Contained Cu Metal increased from 712 Mlbs to 727 Mlbs;
- Contained Gold Metal increased from 394 koz to 396 koz;
- Contained Silver Metal increased from 3,552 koz to 3,947 koz.
- After-Tax NPV @8% discount = CAD$111 million or USD$84 million at a CAD:USD exchange rate of 0.76
- Life of Mine C1 Cash Costs are US$2.20/lb Cu.
- Life of Mine All-In Sustaining Cost (AISC) are US$2.65/lb Cu after by-product credits and excluding closure costs.
- Using a flat US$4.50/lb Copper price and CAD:USD exchange rate of 0.82 with Gold at USD$1,550 AND Silver at USD$18.50 the After-Tax NPV @8% discount increases to CAD$313 million or USD$257 million.
Total Mineral Resource Estimate for the Minto Mine with an Effective Date of March 31, 2021
PEA Economic Model Results
PEA Economic Model Parameters
Annual Copper, Gold and Silver Production for Life of Mine