Filo del Sol PFS Highlights:
- A $1.31 billion after-tax NPV using an 8% discount rate and an IRR of 20% at $3.65/lb copper, $1700/oz gold and $21/oz silver;
- Average annual production of approximately 66,000 tonnes of copper (including copper as copper precipitate), 168,000 ounces of gold, and 9,256,000 ounces of silver at a C1 cost of $1.54/lb CuEq.;
- An Initial Probable Mineral Reserve of 260 Mt of 0.39% copper, 0.34 g/t gold, and 16 g/t silver;
- Pre-production capital cost of $1.81 billion (excluding costs prior to a construction decision);
- 13 year mine life (including pre-stripping)
- Low strip ratio of 1.57:1 (waste:ore)
- LOM C1 $1.54/lb
- initial cap $1.81 billion
- LOM average recovery: 78% Cu 70% Au 83% Ag
Highlights Schaft Creek
- Pre-tax Net Present Value (‘NPV’) 8% of US$1.4 billion (B) Internal Rate of Return (IRR) of 15.2% and payback period of 4.4 years
- After-tax NPV 8% of US$842.1 million (M) and IRR of 12.9% and payback period of 4.8 years
- EBITDA of US$10.8 B Life of Mine (LOM)
- Free Cash Flow of US$9.96 B LOM
- Net Smelter Return (‘NSR’) of US$20.63 per tonne (‘t’)
- 21-year mine life producing approximately 5.0 B pounds (‘lbs’) or 2.3 Mt copper, 3.7 M ounces (oz) gold, 226.0 Mlbs molybdenum and 16.4 Moz silver in concentrate
- 133,000 tonne per day LOM nominal milling rate at 92% capacity processing 1.03 Bt of mill feed, representing approximately 60% of identified mineral resources
- Initial Capital Cost of US$2.65 B, not including Sustaining Capital Costs of US$848.7 M which is inclusive of US$154.0 M Closure Costs
- Operating Costs are US$8.66/t processed
- C1 Cash Costs (net of by-product credits) are US$1.00/lb payable copper
- All in Sustaining Costs are US$1.18/lb payable copper
Imo, the two deposits are very close, once SC is updated with most recent numbers, probably SC is the better project. Filo got sold for $4.5B CDN, so over $1B CDN for our 25% of SC is well within the realm of very possible outcomes.
