“With such positive parameters, we are confident we will be able to advance the project very quickly,” CEO Glenn Jessome said in a news release.
Shares in the Halifax, Nova Scotia-based company plunged 15.5% Tuesday to C27.5¢, ranging between C13.5¢ and C35.5¢ over the past 12 months. But Jessome said management now has a “clear path” to making a construction decision.
Silver Tiger plans to develop a modest, open pit, heap-leach mine at El Tigre. The 10 year mine plan will see El Tigre in total produce 8.6 million oz. silver and 408,000 oz. gold. The project is expected to generate an undiscounted after-tax cash flow of $318 million over its life.
The report estimates all-in sustaining costs of $14.40 per silver-equivalent ounce.
The open-pit design benefits from a low strip ratio of 1.7:1 and mineralization averages 48 grams silver-equivalent per tonne in the pit from surface, enabling efficient operations. Initial…
