Aldridge Minerals refines Turkish flagship project
TORONTO (miningweekly.com) – TSX-V-listed project developer Aldridge Minerals this week reported the results of an optimisation study for its Yenipazar polymetallic volcanogenic massive sulphides deposit in central Turkey.
The optimisation study sought to update the April 2013 Yenipazar feasibility study, revising critical design and operating parameters undertaken since the study was released.
The results enabled Aldridge to establish lower project capital costs with only a moderate increase in operating costs.
While the plant throughput remained the same at 2.5-million tonnes of ore a year over an expected 12-year mine life, the optimisation study lowered the expected preproduction capital costs by 40% to $230-million, compared with the $382-million previously expected.
“Despite lower base case precious metal prices compared to 2013, we believe that the key financial metrics of the project remain extremely strong, supporting our view that development of the Yenipazar … deposit is a sound investment opportunity.
“In addition, the risks associated with the operational permits have been considerably reduced with the approval of our EIA [environmental-impact assessment] permit. Accordingly, with lower capital costs and an approved EIA, we believe our project is well positioned for financing,” chairperson Barry Hildred said.
The news from Tuesday pushed the Toronto-based firm’s stock higher, and on Wednesday traded at C$0.245 apiece.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation