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Gunnison Copper Corp (GCUMF) has filed a technical report for its Preliminary Economic Assessment (PEA) of open pit mining at the Gunnison Project in Arizona. The project shows an after-tax net present value of $1.3 billion and an IRR of 20.9% at a copper price of $4.10/lb.
Key highlights include: Total Measured and Indicated Mineral Resources of 551 million tons at 0.35% copper grade; average annual copper cathode production of 83,700 tons over first 16 years; total initial capital cost of $1.3 billion with 4.1-year payback period; and average Cash Cost of $1.42/lb.
The project will create over 650 local jobs and generate $840 million in U.S. federal, state, and local taxes. Environmental advantages include lower water usage and zero tailings dam risk.
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