Abacus Mining & Exploration Corp.
Symbol:
AME
Exchange:
TSX-Venture
Industry:
Basic Materials
Products:
Metals & Mining
Company Website: Click Here
Company Info: Click Here
Quote and News: Click Here
Profiled Price:
$0.215
(February 26)
Company Snapshot:
Abacus is an exploration and development company with a 43-101 compliant positive preliminary economic assessment report (announced June 22, 2009) for its Ajax copper/gold project located 10 kilometres southwest of Kamloops, British Columbia. The report contemplates a 60,000 tonne per day operation producing an average of approximately 110 million pounds of copper and 100,000 ounces of gold in concentrate annually. Sensitivity analyses approximating metal prices (US$2.75 per pound copper and US$1,000 per ounce gold) in the assessment indicate a NPV of $1.2 billion discounted 8% over a 23 year mine life, with an IRR of 31.3%, cash costs of $0.90 per pound copper, and payback of 2.3 years. The Ajax extension remains open along strike and at depth. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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