Friedland-backed Sama reports PEA for Côte d’Ivoire project
TSX-V-listed Sama Resources, backed by mining billionaire Robert Friedland's HPX, has confirmed the value for the development of its Samapleu nickel/copper project, in Côte d'Ivoire.
The company released a preliminary economic assessment (PEA) for the project that envisions production of 3 900 t/y of carbonyl nickel powder, 8 400 t/y of carbonyl iron powder and 14 100 t /y of copper concentrate, over a 20-year mine life.
The capital cost required will be $282-million for the conventional openpit operation, while operational costs will be $23.96/t milled.
Nickel and iron powders are used in batteries, three-dimensional printing, metal injection moulding, aerospace and automotive parts manufacturing, medical instruments, computer parts, electronic parts, moulds and tools and super alloys.
The PEA also determines that the project has an after-tax net present value of $391-million and internal rate of return of 27.2%.
The project team will continue with its exploration efforts to further delineate massive sulphide accumulation that could contain high-grade nickel/copper and palladium mineralisation.
The PEA was based on a measured and indicated mineral resource estimate of 33-million tonnes, grading 0.27% nickel equivalent and 0.24% nickel.
HPX is a 13.2% shareholder in and has the right to earn a 60% interest in the Côte d’Ivoire project.
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