Freeport Resources Appoints Key Advisors to Lead Yandera Copper Project Optimization Study
Freeport Resources (TSXV: FRI) (OTCQB: FEERF) has appointed Practara to lead the Yandera Copper Project Phase 1 Optimisation and Value-Add Review Study. The Yandera Copper Project, located in Papua New Guinea, is an advanced-stage project with over US$200 million invested in exploration and development. A 2017 Pre-Feasibility Study estimated historical Measured and Indicated Resources of 728 million tonnes grading 0.39% copper equivalent.
The optimisation study is structured in two phases to enhance the project's technical and financial performance. Phase 1 focuses on desktop-based gap analysis and preliminary optimisation, while Phase 2 will refine technical inputs and update the 2017 Pre-Feasibility Study. The study aims to improve economics by evaluating opportunities to reduce costs, enhance recoveries, and optimise logistics.
Freeport Resources views this as part of an ongoing strategic review to maximize the Yandera Copper Project's value, which they believe is significantly undervalued based on historical expenditures, current copper prices, and expansion potential.
Freeport Resources (TSXV: FRI) (OTCQB: FEERF) ha nominato Practara per guidare lo Studio di Ottimizzazione e Revisione del Valore della Fase 1 del Progetto Rame Yandera. Il Progetto Rame Yandera, situato in Papua Nuova Guinea, è un progetto in fase avanzata con oltre 200 milioni di dollari USA investiti in esplorazione e sviluppo. Uno Studio di Pre-Fattibilità del 2017 ha stimato Risorse Misurate e Indicate storiche di 728 milioni di tonnellate con un grado di 0,39% di rame equivalente.
Lo studio di ottimizzazione è strutturato in due fasi per migliorare le prestazioni tecniche e finanziarie del progetto. La Fase 1 si concentra su un'analisi dei gap basata su desktop e un'ottimizzazione preliminare, mentre la Fase 2 raffinerà gli input tecnici e aggiornerà lo Studio di Pre-Fattibilità del 2017. Lo studio mira a migliorare l'economia valutando opportunità per ridurre i costi, aumentare i recuperi e ottimizzare la logistica.
Freeport Resources considera questo come parte di una revisione strategica continua per massimizzare il valore del Progetto Rame Yandera, che ritiene sia significativamente sottovalutato sulla base delle spese storiche, dei prezzi attuali del rame e del potenziale di espansione.
Freeport Resources (TSXV: FRI) (OTCQB: FEERF) ha nombrado a Practara para liderar el Estudio de Optimización y Revisión de Valor de la Fase 1 del Proyecto Cobre Yandera. El Proyecto Cobre Yandera, ubicado en Papúa Nueva Guinea, es un proyecto en fase avanzada con más de 200 millones de dólares estadounidenses invertidos en exploración y desarrollo. Un Estudio de Pre-Factibilidad de 2017 estimó Recursos Medidos e Indicados históricos de 728 millones de toneladas con una ley de 0,39% de cobre equivalente.
El estudio de optimización se estructura en dos fases para mejorar el rendimiento técnico y financiero del proyecto. La Fase 1 se centra en el análisis de brechas basado en escritorio y la optimización preliminar, mientras que la Fase 2 refinará los insumos técnicos y actualizará el Estudio de Pre-Factibilidad de 2017. El estudio tiene como objetivo mejorar la economía evaluando oportunidades para reducir costos, aumentar recuperaciones y optimizar la logística.
Freeport Resources ve esto como parte de una revisión estratégica en curso para maximizar el valor del Proyecto Cobre Yandera, que considera significativamente subestimado en función de los gastos históricos, los precios actuales del cobre y el potencial de expansión.
프리포트 리소스 (TSXV: FRI) (OTCQB: FEERF)는 얀데라 구리 프로젝트 1단계 최적화 및 가치 증대 검토 연구를 주도할 Practara를 임명했습니다. 파푸아뉴기니에 위치한 얀데라 구리 프로젝트는 탐사 및 개발에 2억 달러 이상이 투자된 진급한 프로젝트입니다. 2017년 사전 타당성 조사에서는 728백만 톤의 구리 등가 0.39% 귀금속 자원을 추정했습니다.
최적화 연구는 프로젝트의 기술적 및 재정적 성과를 향상시키기 위해 두 단계로 구조화되어 있습니다. 1단계는 데스크톱 기반의 갭 분석 및 초기 최적화에 중점을 두고, 2단계는 기술 입력을 정제하고 2017년 사전 타당성 조사를 업데이트합니다. 이 연구는 비용 절감, 회수 증대 및 물류 최적화를 통해 경제성을 개선하는 것을 목표로 하고 있습니다.
프리포트 리소스는 이것을 얀데라 구리 프로젝트의 가치를 극대화하기 위한 지속적인 전략 검토의 일환으로 보고 있으며, 역사적 지출, 현재 구리 가격 및 확장 가능성을 기반으로 하여 이 프로젝트가 크게 저평가되었다고 믿고 있습니다.
Freeport Resources (TSXV: FRI) (OTCQB: FEERF) a nommé Practara pour diriger l'Étude d'Optimisation et de Revue de Valeur de la Phase 1 du Projet Cuivre Yandera. Le Projet Cuivre Yandera, situé en Papouasie-Nouvelle-Guinée, est un projet à un stade avancé avec plus de 200 millions de dollars américains investis dans l'exploration et le développement. Une Étude de Pré-Faisabilité de 2017 a estimé des Ressources Mesurées et Indiquées historiques de 728 millions de tonnes avec un grade de 0,39% de cuivre équivalent.
L'étude d'optimisation est structurée en deux phases pour améliorer la performance technique et financière du projet. La Phase 1 se concentre sur une analyse des lacunes basée sur un bureau et une optimisation préliminaire, tandis que la Phase 2 affinera les contributions techniques et mettra à jour l'Étude de Pré-Faisabilité de 2017. L'étude vise à améliorer l'économie en évaluant les opportunités de réduction des coûts, d'amélioration des récupérations et d'optimisation de la logistique.
Freeport Resources considère cela comme faisant partie d'un examen stratégique en cours pour maximiser la valeur du Projet Cuivre Yandera, qu'ils estiment largement sous-évalué sur la base des dépenses historiques, des prix actuels du cuivre et du potentiel d'expansion.
Freeport Resources (TSXV: FRI) (OTCQB: FEERF) hat Practara beauftragt, die Phase 1 Optimierung und Wertsteigerungsüberprüfung des Yandera Kupferprojekts zu leiten. Das Yandera Kupferprojekt, das in Papua-Neuguinea liegt, ist ein fortgeschrittenes Projekt mit über 200 Millionen US-Dollar, die in Exploration und Entwicklung investiert wurden. Eine Machbarkeitsstudie aus dem Jahr 2017 schätzte historische gemessene und angezeigte Ressourcen von 728 Millionen Tonnen mit einem Gehalt von 0,39% Kupferäquivalent.
Die Optimierungsstudie ist in zwei Phasen strukturiert, um die technische und finanzielle Leistung des Projekts zu verbessern. Phase 1 konzentriert sich auf eine Desktop-basierte Lückenanalyse und vorläufige Optimierung, während Phase 2 technische Eingaben verfeinert und die Machbarkeitsstudie von 2017 aktualisiert. Die Studie zielt darauf ab, die Wirtschaftlichkeit zu verbessern, indem Möglichkeiten zur Kostensenkung, zur Erhöhung der Rückgewinnung und zur Optimierung der Logistik bewertet werden.
Freeport Resources sieht dies als Teil einer laufenden strategischen Überprüfung an, um den Wert des Yandera Kupferprojekts zu maximieren, das ihrer Ansicht nach erheblich unterbewertet ist, basierend auf historischen Ausgaben, aktuellen Kupferpreisen und Expansionsmöglichkeiten.
- Appointment of experienced consultancy Practara to lead optimization study
- Yandera Copper Project has significant historical resource base of 728 million tonnes at 0.39% copper equivalent
- Over US$200 million already invested in exploration and development
- Strategic location within the Bismarck Intrusive Complex, near world-class ore bodies
- Potential for resource expansion and improved economics with rising copper prices
- Two-phase optimization study to enhance project's technical and financial performance
- Historical resource estimates and pre-feasibility study from 2017 may not reflect current conditions
- Significant further investment likely required to advance project to production
- Project still at pre-feasibility stage, with definitive feasibility study yet to be completed
- Potential challenges in developing large-scale mining project in Papua New Guinea
- The Yandera Copper Project, an advanced-stage copper deposit in Papua New Guinea, has seen over US
$200 million invested in exploration and development to date. This includes a 2017 Pre-Feasibility Study, which estimated a historical resource of 728 million tonnes of Measured and Indicated grading0.39% copper equivalent*. Despite its significant historical resource base and strategic location within the Bismarck Intrusive Complex, the project offers tremendous potential for growth, particularly with rising copper prices and opportunities for resource expansion.
- A two-part Optimisation Study is being undertaken to maximise the project's value, forming a critical component of an ongoing strategic review. The first phase focuses on desktop-based gap analysis and preliminary optimisation, assessing areas where configuration, scope, and process technology can be enhanced to improve the project's technical and financial performance. By identifying these key value drivers, the study aims to position Yandera for future development and strengthen its case for further investment.
- The 2017 Pre-Feasibility Study, based on copper prices of
$3.35 /lb,$10.00 /lb molybdenum, and$1,400.00 /oz gold*, laid a solid foundation, but this optimisation process will aim to update and refine these figures to reflect current market conditions and technological advancements.
- The key findings from Phase 1 of the study will be instrumental in ongoing discussions with potential strategic partners. These insights will guide the project towards a Definitive Feasibility Study and a Final Investment Decision, ensuring that Yandera can unlock its full potential in the global copper market and become a cornerstone asset for long-term production and value creation.
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2024) - Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) ("Freeport Resources" or the "Company") is pleased to announce, further to its news release of April 4, 2024, the appointment of Practara (Pty) Ltd ("Practara") to lead the Yandera Copper Project Phase 1 Optimisation and Value-Add Review Study, following a competitive bidding process.
Freeport Resources' wholly owned Yandera Copper Project is an advanced-stage project with over US
The 2017 Yandera Copper Project Pre-Feasibility Study* outlined a large open-pit mine producing 33Mt of ore per annum, and a total of 540Mt of Reserves to be mined over a 20-year life of mine, with an average stripping ratio of 1.36. The material would be mined from multiple areas, to coalesce to form one large pit. The Pre-Feasibility Study indicated a Net Present Value (NPV) of US
Practara is a boutique, South African-based consultancy renowned for its expertise in mineral economics and mining studies. The team specialises in feasibility studies, optimisation reviews, strategic assessments, financial modelling, and cost estimation advisory services, serving the minerals and metals industries across more than 10 countries. They bring extensive experience, including their previous role in OPEX and financial modelling for the Wafi-Golpu Project in Papua New Guinea (PNG). Notably, the team was previously part of the Mineral Economics Department at TWP Consulting, which later transitioned to WorleyParsons RSA, to emphasise their in-depth technical roots and long-standing industry involvement.
The Yandera Copper Project Optimisation Study is structured into two phases, each designed to progressively enhance the project's technical and financial performance. Phase 1 focuses on a desktop-based gap analysis and preliminary optimisation, identifying key areas for improvement and establishing the foundation for more detailed work. Phase 2 will build on these findings, targeting deeper optimisation, refining technical inputs, and updating the 2017 Pre-Feasibility Study.
In Phase 2 of the Yandera Copper Project Optimisation Study, Practara will focus on enhanced optimisation efforts. This includes refining technical inputs, conducting supporting studies, developing costing strategies, and updating the 2017 Pre-Feasibility Study. Our objective is to unlock additional value from the Yandera Copper Project, ensuring a robust financial and technical foundation for its advancement to a Definitive Feasibility Study.
The Phase 1 Optimisation Study is intended to identify opportunities for the proposed configuration, scope and processing technology to be enhanced to improve Yandera Copper's technical and financial performance prior to undertaking a Definitive Feasibility Study. Phase 1 will be a desk-based study of the two historical technical reports prepared in accordance with Canadian Securities Administrators' National nstrument 43-101 ("NI 43-101") - Standards of Disclosure for Mineral Projects, available for review on the Company's website (www.freeportresources.com):
- NI 43-101 Preliminary Feasibility Study titled, Independent Technical Report on the Yandera Project - Pre-Feasibility Study*, prepared by WorleyParsons, with an effective date of November 27, 2017.
- NI 43-101 Technical Report - Updated Resource Estimate Yandera Copper Project Papua New Guinea, prepared by SRK Consulting, with an effective date of December 15, 2016.
Both historical NI 43-101 reports on the Yandera Copper Project were completed using a Mineral Resource statement at
Figure 1: Yandera Copper Project Measured, Indicated and Inferred Tonnage at Variable Copper Prices
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5826/226060_freeportfigure1.jpg
Under the Phase 1 Optimisation Study, Practara will identify the highest-priorty opportunities for optimization of the Yandera Copper Project while establishing a roadmap for more detailed studies in Phase 2. The forward work plan developed in Phase 1 will prioritize areas where the greatest impact may be achieved, and support Freeport Resources' strategic decision making, as it advances the Yandera Copper Project. Phase 2 will involve more detailed analysis, incorporating new data, advanced modelling, and further refinement of operational strategies to maximise the potential of the Yandera Copper Project.
"The Yandera Copper Project optimization review is part of Freeport Resources' ongoing strategic review process aimed at maximizing the value of the Yandera Copper Project which the Company believes is significantly undervalued based on historical expenditures, current copper prices and the potential for resource expansion. Over USD
Yandera - One of the World's Largest Undeveloped Copper Projects
Freeport Resources' wholly-owned Yandera Copper Project is located in the highly prolific PNG Orogenic Belt, the same geological arc as some of the world's largest gold and copper deposits including Grasberg, Frieda River, Porgera, Lihir, Wafi-Golpu and Kainantu. Yandera is a project of strategic national interest in PNG and has the potential to become one of the country's most significant copper mines. The project's proximity to Asia, the world's largest copper refiner and consumer, positions Yandera as an attractive potential long-term source of copper supply.
The renewed license EL 1335 covers a 245.5 square kilometer ("km") tenement comprising the Yandera Project. Approximately USD
The 2017 Pre-Feasibility Study titled, Independent Technical Report on the Yandera Project - Pre-Feasibility Study*, prepared by WorleyParsons, with an effective date of November 27, 2017, estimated a historical open-pit, Measured and Indicated Resources of 728 million tonnes grading
* Independent Technical Report on the Yandera Project - Pre-Feasibility Study, prepared for Era Resources Inc. and dated effective November 27, 2017. The study was prepared prior to the Company acquiring an interest in the Yandera Project, and is derived from historical estimates which the Company is not treating as current. This information is intended to provide readers with context on historical analysis conducted on the Yandera Project, however the Company cautions that a qualified person has not done sufficient work to classify any historical estimates in respect of the Yandera Project as current and any analysis conducted by previous owners of the Project may rely upon assumptions which are no longer reasonable or accurate in the context of the current market. The Company is not aware of any more recent mineral resource estimate for the Yandera Copper Project.
Yandera - Feasibility Study
The renewal of EL 1335, through November 19, 2025, allows Freeport Resources to commence work on a Definitive Feasibility Study to advance the Yandera Copper Project toward a Final Investment Decision. Concurrent with the Definitive Feasibility Study program planning, Freeport Resources has begun discussions with key international strategic investors and prospective partners for development of the Yandera Copper Project. Demand for copper is undergoing unprecedented structural change driven by the global energy transition with mined copper supply forecast to enter a deficit position starting as early as 2025 (see Copper Supply and Demand Imbalance Chart below).
Freeport and the Community
The Yandera Copper Project is 95-km southwest of the capital city of Madang Province and 235-km to the northwest of Lae which is the largest port city in PNG and an important industrial center. As one of the largest undeveloped copper resources* in the world, the Yandera Project has the potential to support communities and create jobs along the Yandera Corridor. The Company anticipates the potential economic influence of the Yandera Copper Project could span 5 provinces and create wealth for generations including, but not limited to, strategic road and highway building, power generation and related infrastructure.
The landowners and communities of Yandera are stakeholders in the Yandera Project. The overwhelming community support that the Company received at the Warden's Hearing held during the summer of 2023, demonstrated the level of commitment the people of Yandera have for the project. Freeport is also firmly committed to advancing the project and continuing support of the community. The Company expects to continue to develop initiatives to be an active and visible presence in the Community.
Private Placement
The Company also announces that it has closed a non-brokered private placement and issued 648,750 units (each, a "Unit") at a price of
No finders' fees or commissions were paid in connection with completion of the private placement. All securities issued in connection with the private placement are subject to restrictions on resale until January 28, 2025 in accordance with applicable securities laws.
Qualified Person
Dr. Nathan Chutas, PhD, CPG, Senior Vice-President of Operations for Freeport Resources, is a qualified person for the purposes of National Instrument 43-101. Dr. Chutas has reviewed and approved the technical content in this announcement.
About Freeport Resources Inc.
Freeport Resources is a Canadian mineral exploration company with a primary focus on advancing the development of the Yandera copper-gold-molybdenum project, located in Madang Province, Papua New Guinea. The Yandera project is one of the largest undeveloped copper-gold deposits in the world covering approximately 245.5 square kilometers
Please visit www.freeportresources.com or contact the email address below for more information.
On behalf of the Board,
Freeport Resources Inc.
Gord Friesen, Chief Executive Officer
T. (236) 334-1660
E. gord@freeportresources.com
www.freeportresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule", "intends" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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