Mowana Copper Mine

Cradle Arc has a 60% interest in the Mowana Copper Mine, and a 10-year management contract (valid from December 2016) which enables it to receive management fees equal to 1.5% of gross revenue

    Cradle Arc Interest: 60% Resource: 72,093,000 tonnes containing 686,000 tonnes Cu in the Measured and Indicated categories at an average grade of 0.94 per cent. Cu and a further 99,778,000 tonnes containing 758,000 tonnes Cu grading at 0.76 per cent. Cu in the Inferred category. Production Status: full time production and ramping up to 12,000tpa Cu production Life of mine without DMS (base case): 11 years at 1.2 Mtpa @ 1.1 % Cu for production of up to 12,000 t Cu per annum Upside potential: Plan to install a Dense Media Separation (DMS) pre-concentration process to increase throughput to approximately 2.6 Mtpa @ 1.1 % Cu for production of up to 22,000 t Cu per annum NPV (10%) without DMS*: US$87.4 million IRR without DMS: 56% NPV (10%) with DMS*: US$245 million IRR including DMS: 55% *NPV calculated using early 2017 Cu price of US$2.60 / lb, a 10% discount rate and reported net of debt / payments
    Establishing Resource
    status : Completed
    Scoping Study
    status : Completed
    Pre-Feasibility Study
    status : Completed
    Project Financing Offtake Agreement
    status : Completed
    Mining Construction / Rehabilitation
    status : Completed
    Approval
    status : Completed
    Production
    status : Underway