Proactiveinvestors NA - Silver Bear Resources Rallies on Preliminary Economics at Mangazeisky
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8/17/2019 Proactiveinvestors NA - Silver Bear Resources Rallies on Preliminary Economics at Mangazeisky
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UK: +44 (0)1202 770386
NA: +1 646 896 3065
AU +61 2 9222 2832
www.proactiveinvestors.com
Price: C$0.1
Market Cap: C$16.08M
1 Year Share Price Graph
Share Information
Code: SBR
Listing: TSX
Sector: Platinum & PreciousMetals
Website:
www.silverbearresources.com/s/Home.asp
Company Synopsis:
Silver Bear Resources Inc. is a Canadian
listed and domiciled exploration company
currently engaged in the exploration of
prospective silver and other precious metal
properties in Russia. Silver Bear's principal
asset is its 100% owned Mangazeisky silver
project located in the Republic of Sakha,
Yakutia, in the Russian Federation.
Author:Deborah Bacal +44(0)1202770386
Silver Bear Resources
Feb 27th 2014
Silver Bear Resources rallies on preliminaryeconomics at Mangazeisky
Shares of Silver Bear Resources (TSE:SBR) surged on Thursday after thecompany updated its preliminary economic assessment on its Mangazeiskysilver project in Russia, showing an IRR of 63% after tax, and a base case netpresent value of US$129.9 million.
The company's report projects an initial capital cost of US$39 million for theproject, with sustaining capital pegged at US$51 million.
Cash costs are estimated at $5.55 per ounce of silver for the first five years,
excluding by-product credits, with average production expected at 2.6 millionounces per year during the same period.
The projected average head grade for the first five years of operation is 911grams per tonne (g/t) silver, Silver Bear said. The base case economics of thereport, which was completed y Tetra Tech in the UK, were calculated using a$20 per ounce long-term forecast price for silver.
The project, which is anticipated to have a 19-year mine life, is to be an openpit mine for the first 10 years taking advantage of the high grade silver zonesnear surface, with an underground operation to extend the life for another nineyears.
All mineralized material will be sourced from the company's Vertikalny depositalone, with a pegged mining processing rate of 300 tonnes per day.
"We are very excited about the preliminary results. We believe there are fewmining projects in the industry today that have the potential for such a quickreturn to the investor," said president and CEO Mark Trevisiol.
Investors were also excited, pushing up the stock over 38% to 18 Canadiancents in Toronto, stretching year-to-date gains to 125%.
"Preliminary numbers indicate the potential to start operations quickly andexpedite cash generation on a quality high grade Silver property like the
Mangazeisky project.
"Further, we will continue to work to expand the mineral resource estimate andincrease projected production rates."
Indeed, the company is in the process of receiving assay results from its 2013 exploration program which it completedlast year, drilling over 3,000 metres. It expects to obtain all the results by the second quarter of this year, it said.
Last September, Silver Bear received its mining license at the Mangazeisky property for the Vertikalny deposit, with theterm spanning 20 years to 2033.
The silver exploration company said Thursday that it expects construction of the facility will take up to two years,following the completion of a feasibility study and the receipt of required permits.
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