MONTREAL, Aug. 19, 2019 /CNW Telbec/ - SRG Mining
Inc. (TSXV: SRG) ("SRG" or the "Company") is pleased to
announce that today, it has filed the Feasibility Study ("FS") for
the development of the Lola graphite project in the Republic of
Guinea, West Africa, for which the results were
announced on July 4th,
2019. The FS was prepared by Montréal-based DRA/Met-Chem, a
division of DRA Americas Inc. ("DRA/Met-Chem"). All dollar figures
are in United States dollars.
The following lists the highlights of the FS:
- Average annual production of 54,600 tonnes of graphite flakes
over a 29-year mine life;
- Proven & probable reserves of 42.0Mt @ 4.17% Cg;
- Capital costs of $123 million
("M") including a power plant of $5.8M, concentrate transport equipment of
$3.6M, and contingency of
$12M;
- Added flexibility of the plant to process soft saprolite and
fresh rock, provides optionality and the ability to expand the
production profile;
- Average operational costs of $470/tonne ("t") and $38/t of transport. For the first 16 years of
production, the average operational costs are $447/t;
- Pre-tax NPV (8%) of $277M and
internal rate of return ("IRR") of 28%;
- Post-tax NPV (8%) of $159M and
IRR of 21%;
- Average grade of graphite flakes over 95%;
- A low strip ratio of 0.69.
The report can be found on the Company's website at the
following link or on www.sedar.com.
About DRA/Met-Chem
Met-Chem, a division of DRA Americas Inc., was originally
established in 1969 as a consulting engineering company,
headquartered in Montreal, and
provides a wide range of technical and engineering services. DRA is
a multidisciplinary global engineering group that delivers mining,
mineral processing, energy, water treatment and infrastructure
services from concept to commissioning and into operation. DRA has
offices in Africa, Australia, Canada, China
and the United States.
ABOUT SRG MINING
SRG Mining is a Canadian-based mining company focused on
developing the Lola graphite deposit located in the Republic of
Guinea, West Africa. SRG is committed to operating in
a socially, environmentally, and ethically responsible manner.
For additional information, please visit SRG's website at
www.srgmining.com.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "will", "continue",
"demonstrate", "potential", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would" or "might". Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of
write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits; (v)
the risk associated with establishing title to mineral properties
and assets; (vi) fluctuations in commodity prices and other risks
and factors described or referred to in the section entitled "Risk
Factors" in the MD&A of the Company and which is available at
www.sedar.com, all of which should be reviewed in conjunction
with the information found in this news release
Forward-looking information is based on assumptions management
believes to be reasonable at the time such statements are made,
including but not limited to, continued exploration activities and
no material adverse change in mineral prices. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Such forward-looking information has been provided for
the purpose of assisting investors in understanding the Company's
business, operations and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking information.
Forward-looking information is given as of the date of this press
release, and the Company does not undertake to update such
forward-looking information except in accordance with applicable
securities laws.
SOURCE SRG Mining Inc.
