Sat, Dec 20, 2014, 6:39 AM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.


wefwfo 1 post  |  Last Activity: Sep 22, 2014 9:32 AM Member since: May 22, 2008
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    Feasibility Study

    by maven888 Sep 22, 2014 9:12 AM
    wefwfo wefwfo Sep 22, 2014 9:32 AM Flag

    VANCOUVER, BC -- (Marketwired) -- 09/22/14 -- Turquoise Hill Resources(TRQ) today announced that the 2014 Oyu Tolgoi Feasibility Study (the "Feasibility Study") has been finalized and presented to the board of directors of Oyu Tolgoi LLC. The Feasibility Study includes analysis of two production cases - the 2014 Reserve Case and the 2014 Life of Mine (LOM) Case.

    The 2014 Reserve Case includes mineral reserves from the Southern Oyu Tolgoi open pit and the Hugo North Lift 1 block cave. The LOM Case reflects the development flexibility that exists with respect to later phases of the Oyu Tolgoi deposits (Heruga, Hugo South, and the second lift of Hugo North), which will require separate development decisions in the future based on then prevailing conditions and the development experience obtained from developing and operating the initial phases of the Oyu Tolgoi Project (the "Project"). Accordingly, the 2014 LOM Case is effectively a preliminary economic assessment under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and therefore does not have as high a level of certainty as the 2014 Reserve Case. The 2014 LOM Case is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the 2014 LOM Case will be realized.

    In August 2013, development of the underground mine was delayed to allow matters with the Government of Mongolia to be resolved. Further underground development is subject to resolution of shareholder issues, approval of the Feasibility Study by Oyu Tolgoi's shareholders and the Mongolian Minerals Council, agreement of a comprehensive funding plan including project finance, and receipt of all necessary permits.

    An updated NI 43-101 compliant independent technical report relating to the Project, prepared by OreWin Pty Ltd, will be filed by Turquoise Hill within 45 days of this announcement. The technical report will update the Project's mineral resources and mineral reserves and will be available under Turquoise Hill's profile on SEDAR at Highlights of the technical report to be filed, based on data contained in the Feasibility Study, are as follows:

    An updated mineral resource model and estimate for the Hugo North deposit. The updated mineral resource estimate is similar to and confirms the previous estimates contained in the Oyu Tolgoi Technical Report dated as of March 25, 2013 (the "2013 OT Technical Report"). Mineral resource models for the other Oyu Tolgoi deposits have remained the same.
    Updated mineral reserve estimates are broadly in line with previous estimates. The open pit allows for depletion from 2013 and modified underground dilution and mining loss assumptions resulting in lower grades and mining recovery.
    Underground ore handling will be conveyed to surface via decline, which opens the Project to additional production flexibility and future optionality. The new mine plan will make use of the existing shafts and the planned shafts that were defined in the 2013 OT Technical Report.
    The reduced Project NPV was the result of delay (NPV8% US$0.8 billion) and a reduction due to more cautious cave performance assumptions, which led to a reduction in recovered metal and a slowing of ramp-up of the cave (NPV8% US$1.5 billion).
    Underground block cave mine production remains at 95,000 tonnes per day.
    The plant rate for both cases is the current nominal 100,000 tonnes per day.
    Expansion capital of US$4.9 billion for the underground project, which is in line with the US$5.1 billion estimate contained in the 2013 OT Technical Report (excludes US$0.5 billion of capital spent in 2013 and 2014).

6.98+0.18(+2.65%)Nov 13 12:19 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.