| Announcement Date: | 2022-02-08 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | NI43-101 |
| Company name: | Candente Copper Corp. |
| Project name: | Canariaco |
| Location: | Peru |
| Commodities: | Gold,Silver,Copper |
| Highlight: | PEA results incl. post-tax NPV (8%) of US$1,010M & IRR of 16.3% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, British Columbia, February 8, 2022. Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CDOUF) (“Candente Copper” or “the Company”) is very pleased to announce completion by Ausenco Engineering Canada Inc. (“Ausenco”) of a positive Preliminary Economic Assessment (“the 2022 PEA”) for its 100% owned Cañariaco copper project in Northern Peru. Based on projected average annual metal production of 173 million (“M”) pounds (“lb”) (78,543 tonnes) copper, 31,395 ounces (“oz”) gold (“Au”), and 703,588 oz silver (“Ag”) for 28 years and an initial capital cost estimate (“CapEx”) of $1.04 B, the Cañariaco Norte project has an after-tax net present value (“NPV”) of US$1,010 M, and after-tax internal rate of return (“IRR”) of 16.3% using a copper price of US$3.50 /lb, US$1,650/oz Au, US$21.50/oz Ag and a discount rate of 8%. The NPV increases to US$1,833 M, with an IRR of 21.9% and payback of 4.5 years when using a copper price of US$4.50/lb, US$1,650/oz Au and US$21.50/oz Ag. The C1 cash operating cost (*see below under Operating Costs) is estimated to be US$1.28/lb of copper. The forecast strip ratio is 0.66. Commenting on the results, President and CEO Joanne C. Freeze stated, “We are very pleased with the results of this new PEA which has achieved three key project objectives |
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