Minto production decision is near

A feasibility study for the Minto copper-gold-silver project in the Yukon is complete, and Minto Explorations (VSE) expects to make a production decision in the near future.

Proven and probable reserves total 8.78 million tons grading 1.76% copper, 0.015 oz. gold and 0.22 oz. silver per ton.

The study calls for a 525,000-ton-per-year, open-pit and milling operation, with bulk concentrate trucked to the port of Skagway in Alaska.

The capital cost is estimated at $26 million, with working capital projected at $3.8 million.

During the first five years of the 12-year mine life, annual output is projected at 27 million lb. copper, 10,000 oz. gold and 160,000 oz. silver. Production levels are based on recoveries of 95% for copper, 75% for gold and 85% for silver.

Based on a gold price of US$380 per oz., a silver price of US$5 per oz. and an exchange rate of 1.35, cash production costs (net of credits) are estimated at US59 cents per lb. copper. The estimate is based on a cash cost of $19.69 per ton milled, including corporate overhead; it does not include interest, trucking or smelting charges.

Permitting is under way and Minto is evaluating various sources of financing.

Print

Be the first to comment on "Minto production decision is near"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close