New Pacific shares PFS results for Bolivia silver asset
Toronto-listed New Pacific Metals has announced the results of its prefeasibility study (PFS) for the Silver Sand project, in Bolivia, confirming its potential to become a high-grade, low-cost pure silver producer.
This, CEO Andrew Williams says, sets it apart as a rare and valuable asset in the industry.
The openpit Silver Sand mine will have a 13-year operating life, producing about 157-million ounces of silver, with yearly production exceeding 15-million ounces in the first three years. The average life-of-mine all-in sustaining cost is $10.69/oz.
The PFS calculates an aftertax net present value of $740-million and an internal rate of return of 37% at a base case price of $24/oz of silver.
The project requires an initial capital cost of $358-million and an aftertax payback of 1.9 years at $24/oz.
“The next step along our journey will be reaching an agreement with local communities to secure surface rights for the project area. Furthermore, our team will continue to collaborate with local communities and authorities to ensure that the mineral wealth at Silver Sand benefits all Bolivians and stakeholders," said Williams.
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