Viscaria: The verdict is in – it’s feasible - ABG
Tämä on kolmannen osapuolen analyysi, eikä välttämättä vastaa Inderesin näkemystä tai arvoja
Digging into the feasibility study and mineral resource update
Feasibility study arrives an NPV of SEK 4,466m and IRR of 17.8%
We upgrade total LoM EBITDA and FCF by 12% and 17%
Copper resources up by 18%, upside to 17-year initial LoM
With its Q1 numbers on 8 May, Viscaria published a mineral resource update and a feasibility study for the Viscaria mine, which we dig into in this report. First, the total contained copper resources in Viscaria have increased by 18% since the latest update, in Nov '20, although this is driven by so-called inferred resources, with relatively low geological certainty. Moreover, the feasibility study estimates that Viscaria will convert ~60% of measured and indicated resources into economically mineable reserves, enough to sustain >90% of the initial 17-year life-of-mine (LoM). Viscaria has the potential to significantly outlast its initial LoM, however, through more exploration and resource conversion.
Feasibility study arrives an NPV of SEK 4,466m and IRR of 17.8%
We upgrade total LoM EBITDA and FCF by 12% and 17%
Copper resources up by 18%, upside to 17-year initial LoM
With its Q1 numbers on 8 May, Viscaria published a mineral resource update and a feasibility study for the Viscaria mine, which we dig into in this report. First, the total contained copper resources in Viscaria have increased by 18% since the latest update, in Nov '20, although this is driven by so-called inferred resources, with relatively low geological certainty. Moreover, the feasibility study estimates that Viscaria will convert ~60% of measured and indicated resources into economically mineable reserves, enough to sustain >90% of the initial 17-year life-of-mine (LoM). Viscaria has the potential to significantly outlast its initial LoM, however, through more exploration and resource conversion.