Engineering & Mining Journal

NOV 2018

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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NEWS - CONTINUED 32 E&MJ • NOVEMBER 2018 www.e-mj.com NEWS - CALENDAR OF EVENTS DECEMBER 3-7, 2018: American Exploration & Mining Association annual meeting, Spokane, Washington, USA. Contact: Web: www.miningamerica.org. DECEMBER 4-5, 2018: 1 st International Conference on High Perform- ance Mining, RWTH Aachen University, Aachen, Germany. Contact: Web: www.high-performance-mining.com. JANUARY 27-30, 2019: 45 th Annual Conference on Explosives and Blast- ing Techniques, Nashville, Tennessee, USA. Contact: Web: www.isee.org. FEBRUARY 24-27, 2019: SME Annual Conference & Expo, Denver, Colorado, USA. Contact: Web: www.smeannualconference.com. MARCH 3-6, 2019: Prospectors & Developers Association of Cana- da's annual conference, Metro Convention Center, Toronto, Canada. Contact: Web: www.pdac.ca. MARCH 10-13, 2019: Haulage & Loading, Hilton El Conquistador Resort, Tucson, Arizona, USA. Contact: Web: www.haulageandloading.com. APRIL 2-4, 2019: MiningWorld Russia, Crocus Expo, Moscow, Russia. Contact: Web: www.miningworld.ru. APRIL 8-14, 2019: bauma, Messe Muenchen, Munich, Germany. Contact: Web: www.bauma.de. APRIL 28-MAY 1, 2019: Canadian Institute of Mining (CIM 2019), Montreal, Canada. Contact: Web: www.cim.org. MAY 7-9, 2019: Arminera, Centro Costa Salguero, Buenos Aires, Argentina. Contact: Web: www.arminera.com.ar. MAY 20-22, 2019: Longwall USA, Pittsburgh, Pennsylvania, USA. Contact: Web: www.longwallusa.com. MAY 27-30, 2019: Exponor Chile 2018, Antofagasta, Chile. Contact: Web: www.exponor.cl. AUGUST 27-29, 2019: AIMEX, Sydney Showgrounds, Sydney, Australia. Contact: Web: www.aimex.au. SEPTEMBER 16-20, 2019: Perumin, Centro de Convenciones Cerro Juli, Arequipa, Peru. Contact: Web: perumin.com/perumin34/. SEPTEMBER 9-12, 2019: Exposibram, the Brazilian Mining Expo & Congress, Expominas, Belo Horizonte, Brazil. Contact: Web: www.portaldamineracao.com.br/exposibram. quality and size of this asset. Eva has the potential to add significant cashflow to our operating base, at one of the lowest capital intensities for near-term green- field projects anywhere, in the best min- ing jurisdiction in the world." "Until we have a definitive full-fund- ing solution in place, which we expect in the coming months, we will not com- mence construction nor incur large proj- ect costs. Our objective is to provide low- risk, high-value development options to our shareholders, and we will be conser- vative in financing our growth plans." "In addition, the Eva feasibility study assumes no benefit from resources in the oxide cap, which are treated as waste ma- terial. The company believes the oxide copper at Eva may be recoverable eco- nomically based on preliminary leaching testwork. A metallurgical testwork program is currently underway, and we expect to complete our evaluation in early 2019." Rox Study Considers Mining 3 Deposits at Fisher East Rox Resources has reported the results of an updated scoping study of its Fisher East nickel project 500 kilometers (km) north of Kalgoorlie and 150 km northeast of Leinster, Western Australia. The study considers underground mining of three deposits — Camelwood, Cannonball and Musket — that would be accessed via de- clines from surface. The study suggests that the project has strong economic and technical credentials at a consensus pro- jected forward nickel price. The Fisher East study considered two primary development scenarios: building a stand-alone concentrator or toll milling at a nearby operation. The concentrator case is based on building a concentrator on site with all associated infrastructure, including mine access, haul roads, ac- commodations, etc. The toll mill case is based on hauling run-of-mine ore to a nearby processing plant for toll treat- ment and would require negotiation of an agreement with a third-party processing facility, which has not yet occurred. Up-front capital costs to develop Fish- er East are estimated about A$87 million for the concentrator case, with an addi- tional A$38 million sustaining capital over the life of the mine. For the toll mill case, capital costs are estimated at about A$48 million, with an additional A$37 million sustaining capital. All-in sustaining costs of production are estimated at about A$4.80/lb of nick- el in concentrate for the concentrator case and A$5.10/lb of nickel in concen- trate for the toll mill case. The optimum mining rate would be 500,000 metric tons per year (mt/y), which, if achieved and based on metal- lurgical recoveries of 88%, would result in recovery of about 7,300 mt/y of nickel in concentrate over a mine life of more than six years. Rox Managing Director Ian Mulholland stated, "The improving nickel price out- look prompted us to re-examine the de- velopment prospects for Fisher East, and the results demonstrate that we have a potentially robust nickel project both fi- nancially and technically. "The updated scoping study shows the project can deliver significant value to Rox shareholders under both a stand-alone concentrator option or taking advantage of nearby toll treating opportunities. De- veloping a concentrator generates strong cashflow and competitive costs, while toll treating can be undertaken with signifi- cantly lower pre-production capital costs and only slightly higher operating costs. "Additions to the mineable resource inventory will only improve the project economics, as will the improving pros- pects for the nickel price, which are re- lated to increasing demand from electric vehicle batteries and declining LME nick- el stockpiles. We have recently delineated depth extensions at the Camelwood and Musket deposits, and the Sabre resource is yet to be drilled out. These extensions are likely to lead to increases to mine life and enhanced project economics." (Regional News-Australia/Oceania - from p. 20)

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