Maghreb Minerals PLC has announced that the scoping study on the Bou Jabeur - Gite Est deposit in Tunisia concludes that the project is uneconomic at current lead and zinc prices, but an increase in resources may change that, so it is seeking a partner to progress the project, primarily to fund the additional drilling programme required.
It noted that in the current economic circumstances this process could take some significant time.
In the meantime Maghreb will concentrate on its prospective fluorspar permits and on fluorspar opportunities in general, it said.
The economic appraisal part of the scoping study indicates breakeven for the project with an increase in the current prices of lead and zinc of somewhat less than 20 percent This will also be favourably affected by increasing the resources to allow for a mining rate of greater than 1,500 tonnes per day.
Source: Proactive Investors
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