The Stage 2 Open Pit Operation Feasibility Study reports have confirmed the technical and economic viability of constructing and operating a stand-alone 70,000 ton-per-day open pit copper mining and processing operation.
President and CEO GiulioBonifacio said the Stage 2 stand-alone open pit Feasibility Studyresults further confirms that the Pumpkin Hollow project will support an economically-robust, large copper mine built on a staged basis.
"It is our view that cash flows from Stage 1 will enhance the available financing alternatives for the much larger open pit operation which, once constructed, will transform Nevada Copper to a mid-tier copper producer."Bonifacio added.
"On a combined basis, Stage 1 and Stage 2 currently represent proven and probable mineral reserves of approximately 5 billion pounds of copper and annualized average production in the first five years of 285 million pounds of copper on a project that has an ideal geographic location with an extremely low risk profile."
The company is planning to begin production in 2016, with the mine life expanding from 18 to 22 years.
