HIRU Corporation (HIRU) Announces Feasibility Scoping Study for Balfour Project, Tasmania
HIRU (OTC Pink: HIRU) has announced a Feasibility Scoping Study for its Balfour Copper Project in northwestern Tasmania, Australia. The study outlines a 10-year initial plan to process 500,000 tonnes of ore annually, producing 50,000 tonnes of copper concentrate. The project's pre-production capital is estimated at USD $78 million, including $60 million for infrastructure and $18 million for initial operational expenses.
The project is expected to generate positive cash flow in Year 1, with projected revenues of USD $33.80 million, growing to USD $42.81 million by Year 10. The Balfour Project has significant expansion potential beyond the initial plan, with 110 known deposits along the 70-kilometer tenement strike. The project benefits from existing infrastructure in Tasmania and offers potential for additional revenue from gold and silver by-products.
HIRU (OTC Pink: HIRU) ha annunciato uno Studio di Fattibilità per il suo Progetto Copper Balfour nel nord-ovest della Tasmania, Australia. Lo studio delinea un piano iniziale di 10 anni per elaborare 500.000 tonnellate di minerale all'anno, producendo 50.000 tonnellate di concentrato di rame. Il capitale pre-produzione del progetto è stimato in 78 milioni di dollari USA, di cui 60 milioni per infrastrutture e 18 milioni per spese operative iniziali.
Il progetto si prevede genererà flusso di cassa positivo nel primo anno, con ricavi previsti di 33,80 milioni di dollari USA, aumentando a 42,81 milioni di dollari USA entro il decimo anno. Il Progetto Balfour ha un potenziale di espansione significativo oltre il piano iniziale, con 110 depositi conosciuti lungo il fronte di concessione di 70 chilometri. Il progetto beneficia di una infrastruttura esistente in Tasmania e offre potenziale per ulteriori ricavi da sottoprodotti di oro e argento.
HIRU (OTC Pink: HIRU) ha anunciado un Estudio de Viabilidad para su Proyecto de Cobre Balfour en el noroeste de Tasmania, Australia. El estudio describe un plan inicial de 10 años para procesar 500,000 toneladas de mineral anualmente, produciendo 50,000 toneladas de concentrado de cobre. El capital de pre-producción del proyecto está estimado en 78 millones de dólares USD, incluyendo 60 millones para infraestructura y 18 millones para gastos operativos iniciales.
Se espera que el proyecto genere flujo de efectivo positivo en el Año 1, con ingresos proyectados de 33.80 millones de dólares USD, creciendo a 42.81 millones de dólares USD para el Año 10. El Proyecto Balfour tiene un potencial de expansión significativo más allá del plan inicial, con 110 depósitos conocidos a lo largo de la concesión de 70 kilómetros. El proyecto se beneficia de la infraestructura existente en Tasmania y ofrece potencial para ingresos adicionales de subproductos de oro y plata.
HIRU (OTC Pink: HIRU)는 호주 태즈메이니아 북서부에 있는 발포 구리 프로젝트에 대한 타당성 조사 연구를 발표했습니다. 이 연구는 연간 500,000톤의 광석을 처리하여 50,000톤의 구리 농축물을 생산하기 위한 10년 초기 계획을 설명하고 있습니다. 프로젝트의 초기 자본 비용은 7800만 달러로 추정되며, 이중 6000만 달러는 인프라에, 1800만 달러는 초기 운영 비용에 사용됩니다.
이 프로젝트는 1년 차에 긍정적인 현금 흐름을 생성할 것으로 예상되며, 예상 수익은 3380만 달러에서 시작해 10년 차에 4281만 달러로 증가할 것으로 보입니다. 발포 프로젝트는 70킬로미터의 권리 구역에 110개의 알려진 광산이 있어 초기 계획 이상의 상당한 확장 가능성을 가지고 있습니다. 이 프로젝트는 태즈메이니아 내 기존 인프라로부터 혜택을 얻으며, 금과 은의 부산물로부터 추가 수익을 올릴 수 있는 잠재력이 있습니다.
HIRU (OTC Pink: HIRU) a annoncé une étude de faisabilité pour son Projet de Cuivre Balfour dans le nord-ouest de la Tasmanie, Australie. L'étude décrit un plan initial de 10 ans pour traiter 500 000 tonnes de minerai par an, produisant 50 000 tonnes de concentré de cuivre. Le capital avant-production du projet est estimé à 78 millions USD, dont 60 millions pour l'infrastructure et 18 millions pour les dépenses opérationnelles initiales.
Le projet devrait générer un flux de trésorerie positif dès la première année, avec des revenus prévus de 33,80 millions USD, qui devraient atteindre 42,81 millions USD d'ici la dixième année. Le projet Balfour présente un potentiel d'expansion significatif au-delà du plan initial, avec 110 dépôts connus le long de la zone concédée de 70 kilomètres. Le projet bénéficie de l'infrastructure existante en Tasmanie et offre un potentiel de revenus supplémentaires provenant des sous-produits d'or et d'argent.
HIRU (OTC Pink: HIRU) hat eine Machbarkeitsstudie für sein Balfour Kupferprojekt im Nordwesten von Tasmanien, Australien, angekündigt. Die Studie skizziert einen 10-jährigen Anfangsplan zur Verarbeitung von 500.000 Tonnen Erz jährlich, wodurch 50.000 Tonnen Kupferkonzentrat produziert werden. Die geschätzten Vorlaufkapitalkosten des Projekts betragen 78 Millionen USD, darunter 60 Millionen für Infrastruktur und 18 Millionen für anfängliche Betriebskosten.
Das Projekt wird voraussichtlich im 1. Jahr positive Cashflows generieren, mit prognostizierten Einnahmen von 33,80 Millionen USD, die bis zum 10. Jahr auf 42,81 Millionen USD anwachsen. Das Balfour-Projekt hat ein signifikantes Potenzial für Erweiterungen über den ursprünglichen Plan hinaus, mit 110 bekannten Lagerstätten entlang der 70 Kilometer langen Konzessionslinie. Das Projekt profitiert von der bestehenden Infrastruktur in Tasmanien und bietet Potenzial für zusätzliche Einnahmen aus Gold- und Silbernebenprodukten.
- Project expected to generate positive cash flow in Year 1
- Projected revenue growth from $33.80 million in Year 1 to $42.81 million by Year 10
- Significant expansion potential with 110 known deposits along 70-kilometer tenement strike
- Potential for additional revenue from gold and silver by-products
- Existing infrastructure in Tasmania helps minimize additional capital expenditures
- High pre-production capital requirement of USD $78 million
- Initial 10-year plan only utilizes a portion of the tenement
- Potential delays in copper sales during the initial start-up phase
Toronto, Ontario--(Newsfile Corp. - October 11, 2024) - HIRU Corporation (OTC Pink: HIRU) $HIRU www.otchiru.com, www.hirumining.com is pleased to share with its shareholders and followers a comprehensive Feasibility Scoping Study for the Balfour Copper Project located in northwestern Tasmania, Australia. This study outlines the initial operational and financial parameters, providing a clear path forward for the project's development.
Operational Overview
The Balfour Project is structured to be highly scalable, with substantial expansion potential beyond the initial 10-year plan. The first phase of the project will focus on processing 500,000 tonnes of ore per year, yielding 50,000 tonnes of copper concentrate. This marks just the beginning, with additional resources expected to be discovered as exploration continues along the 70-kilometer strike of the Balfour tenement.
The project is underpinned by a JORC-compliant resource at Murry's Reward, which serves as the foundation for future growth. The broader resource potential within the tenement provides significant upside, positioning the Balfour Project for long-term development.
Capital Requirements
The estimated pre-production capital for the project is USD
- Site Infrastructure (Road work, Site Office): USD
$10 million - Processing Facilities: USD
$20 million - Water Management: USD
$5 million - Open Pit Development (including drilling): USD
$15 million - Contingency (
20% ): USD$10 million - OPEX for the First 6 Months of Operations: USD
$18 million
The additional USD
Financial Projections
Once operations commence, the Balfour Project is projected to generate positive cash flow in Year 1, with expected revenues of USD
The true strength of the Balfour Project lies in its scalability. As more resources are discovered and developed along the tenement, production can expand significantly, ensuring long-term profitability. The project also benefits from existing infrastructure in Tasmania, such as roads, ports, and power supplies, which helps minimize additional capital expenditures.
Future Potential
With 110 known deposits along the tenement and ample room for future exploration, the Balfour Project has the potential to support mining operations well beyond the initial 10-year Life of Mine (LOM) estimate presented in this study. Furthermore, the potential for by-products such as gold and silver offers additional revenue streams, providing flexibility and a hedge against copper price volatility.
Hiru Corporation is excited about the future prospects of the Balfour Project and remains committed to delivering long-term value for its shareholders.
More news filings and regular routine updates will follow in a timely manner.
About Hiru Corporation:
Hiru Corporation (OTC Pink: HIRU) is a mining company headquartered in Toronto, Canada, with a focus on copper and other essential metals. The company's flagship operation, the Balfour Project, is located in north-western Tasmania, Australia. Hiru is committed to ethical mining practices and is actively exploring new opportunities in resource-rich regions across the globe.
Disclaimer Regarding Forward-Looking Statements
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.
Contact:
Corporate Communications
Irina Veselinovic (Secretary)
Website: www.otchiru.com & www.hirumining.com
Email: corporate@otchiru.com
Phone: +1 954-228-1053
Twitter: https://twitter.com/hirumining
LinkedIn: https://www.linkedin.com/company/hiru-corporation/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226365
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