“The approval means we’re one step nearer to construct the subsequent copper-gold mine in Colombia,” CEO Sarah Armstrong Montoya mentioned in a press release.
Designated a ‘mission of nationwide curiosity,’ the Alacran open-pit, set to be Colombia’s largest copper mine, anchors Cordoba’s San Matias bundle. JCHX’s $100 million stake, secured in 2022, features a remaining $20 million fee tied to the approval of the feasibility examine and environmental impression evaluation.
The allow approval marks a giant milestone for Cordoba because it progresses in direction of growing what Montoya believes may change into Colombia’s subsequent main copper-gold mine.
A December feasibility examine for Alacran outlines a $420.4 million value for the 14.2-year mission. The mine plan yields an after-tax web current worth of $360 million (at an 8% low cost) and an inner fee of return of 23.8%.
The examine tasks whole steel manufacturing of 797.2 million lb. of copper, 550,000 oz. of gold, and 5.35 million oz. of silver from possible reserves of 97.9 million tonnes grading 0.41% copper, 0.23 gram gold per tonne and a pair of.63 grams silver.
In Arizona, Cordoba is spending $14.2 million to earn an 80% share of the Perseverance porphyry copper mission in about two years.
At C$0.40 apiece on Thursday, Cordoba shares are up 2.6% over the previous 12 months, having touched C$0.42 and C$0.80. It has a market capitalization of C$81.8 million ($60.6m).