Market Watch
First Bauxite Corporation Files NI 43-101 Technical Report-Bankable Feasibility Study Update for the Bonasika Project
Edited by : AL CIRCLE
2 min read
First Bauxite Corporation is pleased to announce that the NI 43-101 Technical Report - Bankable Feasibility Study Update for its Bauxite Project in Guyana, South America, prepared by the independent engineering firm, Met-Chem Canada Inc., has been filed on SEDAR at www.sedar.com and can also be found on the Company's website at www.firstbauxite.com.
As previously announced on October 6, 2011, the significantly improved results in the BFSU over the NI 43-101 Technical Report - Feasibility Study filed in September 2010, are the result of the addition of the Bonasika 6 and 7 Mineral Reserves in the economic analysis.
The proposed development plan is to now commence operations at the Bonasika 7 deposit, followed by the Bonasika 6 deposit (the "Project"). All Project financial information below relates only to the Bonasika 6 & 7 deposits. As such, the financial value of the Bonasika 1, 2 and 5 deposits, as previously announced in September 2010, are not included in the information below and, therefore, indicate future value for the Company and its stakeholders.
The before tax NPV of the Project (Bonasika 6 & 7 deposits) now stands at $157 million, which is a 279% increase over the previous reported NPV of $41 million (Bonasika 1, 2 and 5 deposits).
As previously announced on October 6, 2011, the significantly improved results in the BFSU over the NI 43-101 Technical Report - Feasibility Study filed in September 2010, are the result of the addition of the Bonasika 6 and 7 Mineral Reserves in the economic analysis.
The proposed development plan is to now commence operations at the Bonasika 7 deposit, followed by the Bonasika 6 deposit (the "Project"). All Project financial information below relates only to the Bonasika 6 & 7 deposits. As such, the financial value of the Bonasika 1, 2 and 5 deposits, as previously announced in September 2010, are not included in the information below and, therefore, indicate future value for the Company and its stakeholders.
The before tax NPV of the Project (Bonasika 6 & 7 deposits) now stands at $157 million, which is a 279% increase over the previous reported NPV of $41 million (Bonasika 1, 2 and 5 deposits).
Previous article
Jamaica to offload stake in Windalco
Next articleBauxite workers are not treated equally
Grow with
AL Circle
