Issue link: http://resourceworld.uberflip.com/i/783264
F E B R U A R Y / M A R C H 2 0 1 7 www.resourceworld.com 9 Inferred resources are 101 million tonnes of 2.74% copper, for 6.1 lbs at a 1% cut-off. The PEA envisions an average min- ing rate for the first 10 years of 8 million tonnes per year at a copper grade of 5.81%, producing an estimated 290,000 tonnes of copper per year. The initial capi- tal cost is $1.0 billion. Mine-site cash costs for the first 10 years would be $0.42/lb copper. The Internal Rate of Return at US $3.00/lb copper and an 8% discount rate is 34.6% (after-tax). The Net Present Value at US $3.00/lb copper and an 8% discount rate would be $4.7 billion (after-tax). HUMMINGBIRD RESOURCES PLC Hummingbird Resources PLC [HUM- AIM] is persevering with construction of its flagship 2.2 million ounce Yanfolila gold project in Mali, which is on schedule and budget following the initial concrete pour on October 20, 2016. First gold pour is expected year end 2017. The 2.2 million-ounce Yanfolila Mine optimized mine schedule based on maiden reserves from December 2015 demon - strates a NPV of US $162 million and an IRR of 60% at a US $1,250/oz gold price, with first full year unleveraged cash flow of US $74 million. All-in sustaining costs are estimated to be US $695/oz. First full year's production is forecast at 132,000 ounces with the average production per year over the life-of-mine to be 107,000 ounces. Hummingbird has appointed IMAGRI- SARL as civil works contractor for the completion of plant civil works with work now under way. Mine development is also on track and on budget. The company arranged a US $45 million senior secured term facility and a US $10 million cost overrun facility. Total project CAPEX is US $88 million which leaves the project fully funded into positive cash flow with US $71 million of equity raised earlier this year combined with this facility. ATLANTIC GOLD CORP. Atlantic Gold Corp. [AGB-TSXV] is cur- rently building the open pit Moose River Consolidated (MRC) Mine in Nova Scotia. The 2015 feasibility study base case, which includes the Touquoy and Beaver Dam deposits, states proven and probable reserves are 760,000 ounces of gold grad - ing 1.44 g/t gold. Two additional deposits not yet in the mine plan are Cochrane Hill with 252,000 ounces grading 1.8 g/t gold (indicated) and 298,000 ounces at 1.6 g/t gold (inferred) as well as Fifteen Mile Stream with 584,000 ounces grading 1.6 g/t gold (inferred). Cash operating costs are forecast at $626/ oz with all-in sustaining costs at $690/oz. A 2014 Preliminary Economic Assessment indicated that both total LEFT: The Pretium Resources Brucejack Mine in the Golden Triangle region of northwestern British Columbia where commissioning is expected to start in mid- 2017. Photo courtesy Pretium Resources Inc.