Swiss mine developer Solaris Resources (TSX: SLS; NYSE: SLSR) says a prefeasibility study shows its Warintza copper-gold project in southeastern Ecuador would generate an after-tax net present value of $4.6 billion if it goes ahead.
Based on a long-term copper price of $4.50 per lb., Warintza would have a 26% after-tax internal rate of return with a post-tax payback period of 2.6 years, Solaris said Thursday in a statement. Initial capital for the project is estimated to be $3.73 billion, including a 16% contingency.
Solaris, which left Canada for Switzerland last year over Ottawa’s crackdown on Chinese investments in Canadian mining companies, envisions an open-pit operation producing 240,000 copper-equivalent tonnes a year over a 22-year mine life. This would include about 300,000 copper-equivalent tonnes…
