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Phoenix Copper estimates Empire mine cost at $52.6m
StockMarketWire.com
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Phoenix Copper said it had completed a new economic model for the Empire open pit mine in Idaho to recover copper, zinc, gold and silver at a pre-production capital cost of $52.6 million.
The copper-led operation would target first production in 2022, with a 10-year mine life processing a total of 14.3 million tonnes of measured and indicated ore at a 0.5% copper cut-off grade.
Life-of-mine revenue was estimated at $784 million, with average annual production of 8,550 tonnes of copper, 1,970 tonnes of zinc, 17,235 ounces of gold and 680,050 ounces of silver.
'"This new Empire EM is timely, coinciding with elevated copper and silver markets, a stable zinc market, and a respectable gold price,' chief executive Ryan McDermott said.
At 9:24am: (LON:PXC) share price was 0p at 40p
Story provided by StockMarketWire.com
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