Project StatusA positive Pre-Feasibility Study (September 2009) examined a 15,000-tonne-per-day mine with average annual production of 10 million ounces silver for the first six years, or 6.4 million ounces silver annually over a 27-year mine life, plus by-product lead and zinc. Initial capital costs are estimated at US$339 million, with payback in less than three years. The study was based only on proven and probable reserves containing 258 million ounces of silver, plus 2.9 billion pounds of lead and 1.4 billion pounds of zinc. Cash costs of US$1.06 per ounce of silver are projected for the first 10 years, or US$2.87 per ounce life-of-mine, net of base metal credits. The study recommends that Corani proceed to a Bankable Feasibility Study. | |