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Alta Copper Corp has announced the results of its 2024 Optimized Preliminary Economic Assessment (PEA) for the Cañariaco Project. The assessment, prepared by Ausenco, AGP Mining Consultants, and Whittle Consulting, reveals a robust base-case after-tax NPV of $2.3 billion and an IRR of 24.1% using an 8% discount factor.
The project, located 700 km northwest of Lima, is estimated to produce 8.026 billion pounds of copper, 1.67 million ounces of gold, and 33.2 million ounces of silver over its life. With a 27-year mine life and pre-production capital cost of $2.2 billion, the operation targets average annual free cash flow of $538 million in the first 10 years.
Key economic metrics include C-1 costs of $1.86/lb copper and an all-in sustaining cost (AISC) of $1.96/lb copper. The PEA indicates significant leverage to copper prices, with a $0.25/lb increase in copper price adding approximately $425 million to the after-tax NPV.
The initial capital intensity is low due to favorable geographical and infrastructural settings. The detailed technical report will be available by June 7, 2024, on SEDAR+ and Alta Copper's website.
Alta Copper Corp. delivers a new geological model for the Cañariaco project identifying high priority drill targets. The company plans increased drill hole coverage, submitted a drill permit application, and expects approval by Q3-2024. An Optimized PEA is targeted to be published by May 15, 2024. Alta Copper focuses on sustainable community development and has committed funds for sustainable projects. The company engages in field activities and has identified potential product opportunities in the area.