Ecora Resources PLC Announces Maracás Menchen Update
Ecora Resources has announced an update regarding Largo's Maracás Menchen vanadium-titanium operation in Brazil, where Ecora holds a 2% Net Smelter Return royalty. The updated Life of Mine Plan and Pre-Feasibility Study revealed significant improvements, including a thirteen-year extension to the reserve-based mine life (now extending to 2054) and a 67% increase in Mineral Reserves. The project demonstrates substantial growth potential with an estimated US$1.1 Billion NPV7.
Ecora Resources ha annunciato un aggiornamento riguardante l'operazione di vanadio-titanio Maracás Menchen di Largo in Brasile, dove Ecora detiene un royalty del 2% sul ricavo netto della fusione. Il Piano di Vita della Mina aggiornato e lo Studio di Pre-Fattibilità hanno rivelato miglioramenti significativi, inclusa una estensione di tredici anni della vita della miniera basata sulle riserve (ora estesa fino al 2054) e un aumento del 67% nelle Riserve Minerarie. Il progetto dimostra un notevole potenziale di crescita con un NPV7 stimato di 1,1 miliardi di dollari USA.
Ecora Resources ha anunciado una actualización sobre la operación de vanadio-titanio Maracás Menchen de Largo en Brasil, donde Ecora posee un regalía del 2% sobre el ingreso neto de la fundición. El Plan de Vida de la Mina actualizado y el Estudio de Prefactibilidad revelaron mejoras significativas, incluida una prórroga de trece años en la vida útil de la mina basada en reservas (ahora extendida hasta 2054) y un aumento del 67% en las reservas minerales. El proyecto demuestra un potencial de crecimiento sustancial con un NPV7 estimado de 1,1 mil millones de dólares estadounidenses.
Ecora Resources는 Ecora가 2% 순환 수익 로열티를 보유한 브라질의 Largo Maracás Menchen 바나듐-티타늄 사업에 대한 업데이트를 발표했습니다. 업데이트된 광산 생애 계획 및 사전 타당성 연구는 중요한 개선 사항을 밝혔습니다. 여기에는 자원 기반 광산 생애의 13년 연장 (현재 2054년까지 연장됨)과 광물 매장량 67% 증가가 포함됩니다. 이 프로젝트는 11억 달러의 NPV7로 상당한 성장 잠재력을 보여줍니다.
Ecora Resources a annoncé une mise à jour concernant l'opération de vanadium-titane Maracás Menchen de Largo au Brésil, où Ecora détient une redevance de 2% sur le revenu net de fusion. Le Plan de Vie de la Mine mis à jour et l'Étude de Pré-Faisabilité ont révélé des améliorations significatives, y compris une extension de treize ans de la durée de vie de la mine basée sur les réserves (maintenant jusqu'en 2054) et une augmentation de 67% des Réserves Minérales. Le projet démontre un potentiel de croissance substantiel avec une valeur actuelle nette (NPV7) estimée à 1,1 milliard de dollars US.
Ecora Resources hat ein Update zu Largos Maracás Menchen Vanadium-Titanbetrieb in Brasilien angekündigt, wo Ecora eine 2% Nettoschmelz-Royalties hält. Der aktualisierte Lebensdauerplan und die Machbarkeitsstudie enthüllten bedeutende Verbesserungen, darunter eine dreizehnjährige Verlängerung der reservebasierten Lebensdauer der Mine (nun bis 2054 verlängert) und einen 67% Anstieg der Mineralreserven. Das Projekt zeigt ein erhebliches Wachstumspotenzial mit einem geschätzten 1,1 Milliarden US-Dollar NPV7.
- 13-year extension of mine life to 2054, extending royalty duration
- 67% increase in Mineral Reserves
- Project valuation of US$1.1 Billion NPV7
- 2% Net Smelter Return royalty position on all mineral products
- None.
LONDON, UNITED KINGDOM / ACCESSWIRE / October 28, 2024 / Ecora Resources PLC (LSE:ECOR)(TSX:ECOR) notes the press release issued today by Largo Inc. ("Largo") regarding the results of an updated Life of Mine Plan ("LOMP") and Pre-Feasibility Study completed on Largo's Maracás Menchen vanadium-titanium operation located in Bahia State, Brazil. Ecora has a
The highlights of the LOMP and Pre-Feasibility Study include a thirteen year increase in the reserve based mine life (out to 2054) and a
The full press release can be found here: https://www.largoinc.com/news/news-details/2024/Largo-Announces-Results-of-an-Updated-Life-of-Mine-Plan-and-Pre-Feasibility-Study-for-its-Vanadium-Titanium-Operation-in-Brazil-67-Increase-in-Mineral-Reserves-64-Increase-in-Mineral-Resources-31-Year-Mine-Life-with-US1.1-Billion-NPV7-Estimate/default.aspx
For further information
Ecora Resources PLC | +44 (0) 20 3435 7400 |
Geoff Callow - Head of Investor Relations |
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Website: | |
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FTI Consulting Sara Powell / Ben Brewerton / Nick Hennis | +44(0) 20 3727 1000 |
About Ecora Resources
Ecora Resources is a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future.
Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support a sustainable future by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.
The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.
Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over
Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX:ECRAF).
Cautionary statement on forward-looking statements and related information
Certain statements in this announcement, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Group's expectations and views of future events. Forward-looking statements (which include the phrase 'forward-looking information' within the meaning of Canadian securities legislation) are provided for the purposes of assisting readers in understanding the Group's financial position and results of operations as at and for the periods ended on certain dates, and of presenting information about management's current expectations and plans relating to the future. Readers are cautioned that such forward-looking statements may not be appropriate other than for purposes outlined in this announcement. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, cash flow, requirement for and terms of additional financing, performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of the Group including the outlook for the markets and economies in which the Group operates, costs and timing of acquiring new royalties and making new investments, mineral reserve and resources estimates, estimates of future production, production costs and revenue, future demand for and prices of precious and base metals and other commodities, for the current fiscal year and subsequent periods.
Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. Forward-looking statements are based upon certain material factors that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by the Group in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. The material factors and assumptions upon which such forward-looking statements are based include: the stability of the global economy; the stability of local governments and legislative background; the relative stability of interest rates; the equity and debt markets continuing to provide access to capital; the continuing of ongoing operations of the properties underlying the Group's portfolio of royalties, streams and investments by the owners or operators of such properties in a manner consistent with past practice; no material adverse impact on the underlying operations of the Group's portfolio of royalties, streams and investments from a global pandemic; the accuracy of public statements and disclosures (including feasibility studies, estimates of reserve, resource, production, grades, mine life and cash cost) made by the owners or operators of such underlying properties; the accuracy of the information provided to the Group by the owners and operators of such underlying properties; no material adverse change in the price of the commodities produced from the properties underlying the Group's portfolio of royalties, streams and investments; no material adverse change in foreign exchange exposure; no adverse development in respect of any significant property in which the Group holds a royalty or other interest, including but not limited to unusual or unexpected geological formations and natural disasters; successful completion of new development projects; planned expansions or additional projects being within the timelines anticipated and at anticipated production levels; and maintenance of mining title.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which could cause actual results to differ materially from those anticipated, estimated or intended in the forward-looking statements. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. No statement in this communication is intended to be, nor should it be construed as, a profit forecast or a profit estimate.
By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate; that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved.
A variety of material factors, many of which are beyond the Group's control, affect the operations, performance and results of the Group, its businesses and investments, and could cause actual results to differ materially from those suggested by any forward-looking information. Such risks and uncertainties include, but are not limited to current global financial conditions, royalty, stream and investment portfolio and associated risk, adverse development risk, financial viability and operational effectiveness of owners and operators of the relevant properties underlying the Group's portfolio of royalties, streams and investments; royalties, streams and investments subject to other rights, and contractual terms not being honoured, together with those risks identified in the 'Principal Risks and Uncertainties' section of our most recent Annual Report, which is available on our website. If any such risks actually occur, they could materially adversely affect the Group's business, financial condition or results of operations. Readers are cautioned that the list of factors noted in the section herein entitled 'Risk' is not exhaustive of the factors that may affect the Group's forward-looking statements. Readers are also cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements.
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SOURCE: Ecora Resources PLC
View the original press release on accesswire.com
FAQ
What are the key findings of Largo's 2024 Maracás Menchen mine update for ECRAF?
How long is the new mine life of Maracás Menchen following the October 2024 update?
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