The Rocklands Feasibility Study considers the Stage-1, 10-year mine plan, which is part of a multi-stage development plan for the project.
Highlights of the Stage-1, 10-year mine plan:
• Project revenue: $1,930 million
• Operating costs: $1,299 million (includes mining, processing, transport, general and administration, treatment and refining charges, sales costs and royalties)
• Remaining capex spend: $64 million
• NPV8% (after tax, and after remaining capex): $405 million
• Net free cash-flow from operations: $631 million
The Report is prepared with the level of detail and structure of a mining project feasibility study and has been reviewed by independent recognised industry professionals, including technical due diligence in the areas of geology, engineering, metallurgy and finance.
Rocklands is a multi-lode copper-cobalt-gold (including native copper) deposit with associated magnetite of the Iron Oxide Copper Gold (“IOCG”) style, located in the Eastern Fold Belt of the Mt Isa Inlier, and about 17km northwest of Cloncurry, Queensland, Australia.
The Report is based on pit and stockpile survey and audits to end June 2015, as such ore mined subsequent to this period has neither been added to stockpiles, nor depleted from Reserves.
The Report notes that grade underestimation of copper has been identified during resource drilling and mining, within ore zones containing coarse native copper, and may result in additional copper output over the mine life should this be confirmed from production reconciliation. This upgrade option is not included in this study.