Crazy Horse Resources is the owner and operator of the Taysan Project, an advanced copper-gold porphyry deposit located 100km south of Manila, Philippines and 20 km away from the country's major port.
The Taysan Project has a resource estimate of 459 million tonnes in the measured and indicated categories using a cut-off of 0.1% copper and an additional 509 million tonnes in the inferred category. Based on measured and indicated resources, contained copper is 2.6 billion pounds; contained gold is1.5 million ounces; contained silver is 12.3 million ounces; and contained magnetite is 14.9 million tonnes.
A pre-feasibility study (PFS) based on a 15 Mtpa operation was completed in April 2012 and showed robust economics with the Taysan Project having an estimated after-tax NPV of US$512 million and an IRR of 30.4%, including metal by-products. The large measured and indicated resource will provide the basis for the Stage 1 project (15 Mtpa operation for 24 years) which can then be followed by the Stage 2 expansion to either double the throughput rate or extend the mine life to up to 40 years.
The Taysan Project is expected to produce 1.9Blbs of copper, 0.8Moz of gold, 5.6Moz of silver and 11.4Mt of magnetite during its 24 year mine life.
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