Resource World Magazine

36 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 2 0 TOP 10 STOCKS life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), IRR of 38.7%, and initial pre-production Capex of $322.5 million. The Phoenix ISR opera- tion is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre- production capital expenditures of $322.5 million, and average operating costs of US $3.33/lb U 3 O 8 . The PFS was prepared on a 100% ownership and pre-tax basis. Giga Metals Corp. [GIGA-TSXV; HNCKF-OTC; BRR-FSE] is advancing its 100%-owned Turnagain nickel-cobalt sulphide project located in northern British Columbia, Canada. As of September 2019, Measured and Indicated Resources were 5.2 billion pounds of nickel and 312 million pounds of cobalt. Inferred Resources stand at 5.5 billion pounds of nickel and 327 million pounds of cobalt. The company has carried out extensive metallurgical test work which determined that froth flotation can reliably create a clean concentrate, a desirable product that can be upgraded to high-purity, Class One, nickel (purity > 99.8%) for use in lithium ion batteries. The cobalt by-product is another critical element in battery produc- tion. Metallurgical studies are continuing. An independent PEA envisioned conventional open pit truck and shovel operations with an After-tax NPV (8%) of US $724 million and an After-tax IRR of 13.5%, a payback period of 7.3 years and mill operation of 27.2 years. GT Gold Corp. [GTT-TSXV; GTGDF- OTC] has received more positive assay results from its 15,000-metre Phase 2 exploration program at the Saddle North copper-gold porphyry system at its 100%- owned Tatogga Project in the Golden Triangle region of northwestern British Columbia. Drill hole TTD128 intersected 635.00 metres at 0.40 g/t gold, 0.31% copper, 0.93 g/t silver (0.61% copper equivalent; 0.83 g/t gold equivalent) from 696 to 1,331 metres, including 225.39 metres at 0.74 g/t gold, 0.46% copper, 1.57 g/t silver (1.01% CuEq; 1.39 g/t AuEq) from 1,083.81 to 1,309.20 metres and other higher grade sections. Results from the recent drilling outlined a well-mineralized, northerly-trending and west-southwesterly dipping envelope of mineralization that has down-plunge, strike and width dimensions of 1,400 to 1,600 metres, 700 metres and 200 to 560 metres, respectively, making this a signifi- cant mineral discovery. In addition to the porphyry-style min- eralization, high-grade precious metal veins have been intersected peripheral to the main body of porphyry mineraliza- tion, both in the hangingwall and footwall that offer exploration potential in the large Saddle North mineralizing system. Drill hole TTD128 returned a number of sig- nificant gold intersections, including 4.11 metres at 25.42 g/t gold from 529.20 metres and 15.70 metres at 6.21 g/t gold from 1,506.00 metres. Mineral resources have not yet been cal- culated. Significant shareholders include Ross Beaty and Newmont Goldcorp. Los Andes Copper Limited [LA-TSXV] is preparing a Pre-Feasibility Study at its 100%-owned Vizcachitas copper-molyb- denum porphyry project in Chile, one of the largest advanced copper deposits in the Americas. The project is located 150 km north of Santiago. In June, a NI 43-101 compliant Preliminary Economic Assessment (PEA) was prepared by Tetra Tech Chile. Measured and Indicated Resources are 1,284.06 mil- lion tonnes grading 0.396% copper, 141.4 ppm molybdenum and 1.05 g/t silver, giv- ing a 0.451% copper equivalent. Inferred Resources are 788.82 million tonnes grading 0.337% copper, 127.0 ppm molybdenum and 0.88 g/t silver, giving a 0.386% copper equivalent. The PEA determined that After-tax NPV (8%) would be US $1.8 billion with an IRR of 20.77% at US $3.00/lb copper. Payback period is 3.4 years from initial operations and 5.4 years from initial con- struction. Mine life would be 45 years. C1 Cash Cost (net of by-product credits) is US

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