Announcement Date: 2022-03-29
Announcement Type: Optimisation Study
Announcement Code: JORC
Company name: Elementos Ltd.
Project name: Oropesa
Location: Spain
Commodities: Copper,Tin,Zinc
Highlight: Optimisation Study results incl. pre-tax NPV (8%) of A$292M & IRR of 46%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Elementos Limited’s (ASX:ELT) Optimisation Study (JORC defined Scoping Study) for its Oropesa Tin Project in Spain has confirmed a robust case for upgrading the project scale to 1.25Mtpa Run of Mine (ROM) rate, with average annual contained tin production projected at 3,350tpa. Oropesa project economics are robust at a variety of tin price assumptions and discount rates as evidenced by the following table, with the Scoping Study tin price of US$32,500/t and the current cash tin price of US$42,650/t (LME# ) US$54,000/t (SHFE+ ) highlighted for ease of comparison. The Optimisation Study provides a significant increase from Elementos’ previous 2020 Updated Economic Study (750ktpa operation, US$92M NPV8, Pre-tax) 3 . The increase in project scale includes increases to mining, ore sorting, processing and supporting infrastructure and is designed to comply with the Spanish mining and environmental regulations, including back-fill and rehabilitation of the open-pit.
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