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HIRU Corporation (HIRU) Releases Preliminary Feasibility Scoping Study for the Balfour Project, Tasmania

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HIRU (OTC Pink: HIRU) has completed a preliminary feasibility scoping study for its Balfour Copper Project in northwestern Tasmania, Australia. The study outlines a 10-year Life of Mine (LOM) scenario, projecting to treat 500,000 tonnes of ore annually with a grade of 1.5% copper, yielding approximately 50,000 tonnes of copper concentrate per year.

Key financial projections include:

  • Year 1 metal revenue: USD $73.47 million
  • Year 10 metal revenue: USD $93.07 million
  • Year 1 net revenue: USD $33.80 million
  • Year 10 net revenue: USD $42.81 million

The study highlights the project's scalability and financial robustness, with extensive exploration opportunities along a 70-kilometer strike. The presence of gold and silver as by-products offers potential for diversified revenue streams.

HIRU (OTC Pink: HIRU) ha completato uno studio di fattibilità preliminare per il suo Progetto di Rame Balfour nel nord-ovest della Tasmania, Australia. Lo studio delinea uno scenario di Vita Mineraria (LOM) di 10 anni, prevedendo di trattare 500.000 tonnellate di minerale all'anno con un tenore di 1,5% di rame, generando circa 50.000 tonnellate di concentrato di rame all'anno.

Le principali proiezioni finanziarie includono:

  • Entrate metalliche anno 1: USD $73,47 milioni
  • Entrate metalliche anno 10: USD $93,07 milioni
  • Entrate nette anno 1: USD $33,80 milioni
  • Entrate nette anno 10: USD $42,81 milioni

Lo studio evidenzia la scalabilità del progetto e la robustezza finanziaria, con ampie opportunità di esplorazione lungo un fronte di 70 chilometri. La presenza di oro e argento come sottoprodotti offre potenziale per flussi di entrate diversificati.

HIRU (OTC Pink: HIRU) ha completado un estudio de viabilidad preliminar para su Proyecto de Cobre Balfour en el noroeste de Tasmania, Australia. El estudio detalla un escenario de Vida de Mina (LOM) de 10 años, proyectando tratar 500,000 toneladas de mineral anualmente con una ley de 1.5% de cobre, generando aproximadamente 50,000 toneladas de concentrado de cobre por año.

Las proyecciones financieras clave incluyen:

  • Ingresos metálicos año 1: USD $73.47 millones
  • Ingresos metálicos año 10: USD $93.07 millones
  • Ingresos netos año 1: USD $33.80 millones
  • Ingresos netos año 10: USD $42.81 millones

El estudio resalta la escalabilidad del proyecto y su solidez financiera, con amplias oportunidades de exploración a lo largo de un frente de 70 kilómetros. La presencia de oro y plata como subproductos ofrece potencial para flujos diversificados de ingresos.

HIRU (OTC Pink: HIRU)는 호주 태즈마니아 북서부의 발푸르 구리 프로젝트에 대한 초기 타당성 조사 연구를 완료했습니다. 이 연구는 10년의 광산 수명(LOM) 시나리오를 개략적으로 설명하며, 연간 500,000톤의 광석 처리를 목표로 하고, 구리 함량 1.5%로 약 연간 50,000톤의 구리 농축물을 생산할 것으로 예상합니다.

주요 재무 예측은 다음과 같습니다:

  • 1년 차 금속 수익: USD $73.47백만
  • 10년 차 금속 수익: USD $93.07백만
  • 1년 차 순수익: USD $33.80백만
  • 10년 차 순수익: USD $42.81백만

이 연구는 프로젝트의 확장 가능성 및 재정적 안정성을 강조하며, 70킬로미터에 걸친 광범위한 탐사 기회를 제공합니다. 금과 은의 부가적 제품 존재는 다양한 수익원을 창출할 수 있는 잠재력을 제공합니다.

HIRU (OTC Pink: HIRU) a terminé une étude de faisabilité préliminaire pour son Projet de Cuivre Balfour dans le nord-ouest de la Tasmanie, Australie. L'étude décrit un scénario de Vie de Mine (LOM) de 10 ans, prévoyant de traiter 500 000 tonnes de minerai par an avec une teneur de 1,5 % de cuivre, produisant environ 50 000 tonnes de concentré de cuivre par an.

Les principales projections financières incluent :

  • Revenu métallique année 1 : USD $73,47 millions
  • Revenu métallique année 10 : USD $93,07 millions
  • Revenu net année 1 : USD $33,80 millions
  • Revenu net année 10 : USD $42,81 millions

L'étude souligne la scalabilité du projet et la solidité financière, avec de nombreuses opportunités d'exploration sur une longueur de 70 kilomètres. La présence d'or et d'argent en tant que sous-produits offre un potentiel de diversification des sources de revenus.

HIRU (OTC Pink: HIRU) hat eine vorläufige Machbarkeitsstudie für sein Balfour Kupferprojekt im Nordwesten von Tasmanien, Australien, abgeschlossen. Die Studie beschreibt ein Szenario mit einer Lebensdauer von 10 Jahren (LOM), mit dem Ziel, jährlich 500.000 Tonnen Erz mit einem Gehalt von 1,5 % Kupfer zu behandeln, was ungefähr 50.000 Tonnen Kupferkonzentrat pro Jahr ergeben soll.

Wichtige finanzielle Projektionen sind:

  • Metallumsatz Jahr 1: USD $73,47 Millionen
  • Metallumsatz Jahr 10: USD $93,07 Millionen
  • Nettoertrag Jahr 1: USD $33,80 Millionen
  • Nettoertrag Jahr 10: USD $42,81 Millionen

Die Studie hebt die Skalierbarkeit des Projekts und die finanzielle Robustheit hervor, mit umfangreichen Erkundungsmöglichkeiten entlang eines 70 Kilometer langen Streifens. Das Vorhandensein von Gold und Silber als Nebenprodukten bietet Potenzial für diversifizierte Einnahmequellen.

Positive
  • Projected annual treatment of 500,000 tonnes of ore with 1.5% copper grade
  • Estimated 50,000 tonnes of copper concentrate production per year
  • Increasing projected metal revenue from $73.47 million in Year 1 to $93.07 million in Year 10
  • Growing net revenue from $33.80 million in Year 1 to $42.81 million in Year 10
  • Potential for additional resources and increased production capacity
  • Presence of gold and silver by-products offering revenue diversification
Negative
  • Total costs expected to rise from $39.67 million in Year 1 to $50.26 million by Year 10
  • Current study only represents a portion of the overall project, indicating uncertainty in full potential
  • OTC Markets has placed a 'promotional' horn icon on the company's listing

Toronto, Ontario--(Newsfile Corp. - October 8, 2024) - HIRU Corporation (OTC Pink: HIRU) $HIRU www.otchiru.com, www.hirumining.com is pleased to announce the completion of a preliminary feasibility scoping study for the Balfour Copper Project located in northwestern Tasmania, Australia. This study, which focuses on a 10-year Life of Mine (LOM) snapshot, highlights the project's significant financial potential, driven by both the scale of copper reserves and increasing global demand.

The Balfour Project is projected to treat 500,000 tonnes of ore annually, grading at 1.5% copper, yielding approximately 50,000 tonnes of copper concentrate per year. The study evaluates a 5-million-tonne ore processing scenario, representing only a portion of the overall project, as additional resources remain to be explored and developed.

Projected Revenue & Financials

  • Year 1 projected metal revenue: USD $73.47 million
  • Year 10 projected metal revenue: USD $93.07 million
  • Estimated net revenue and strong cash flow throughout the 10-year period:
    • Year 1 net revenue: USD $33.80 million
    • Year 10 net revenue: USD $42.81 million
  • Total costs are expected to rise from USD $39.67 million in Year 1 to USD $50.26 million by Year 10.

The scoping study underscores the project's scalability and financial robustness. The JORC-compliant resources at Murry's Reward, located within the Balfour Project, represent just a fraction of the potential. Extensive exploration opportunities along the 70-kilometer strike remain untapped, suggesting that the project's ultimate production capacity may far exceed the figures presented in this initial analysis.

By-Products & Diversification The Balfour Project's potential is further enhanced by the presence of by-products such as gold and silver, which are frequently associated with copper deposits in Tasmania. These by-products offer diversification of revenue streams, providing additional financial upside and serving as a hedge against potential copper price volatility.

HIRU Corporation remains committed to advancing the Balfour Project while maintaining a balance between resource extraction and environmental sustainability, in line with Tasmanian laws and regulations. As the project progresses, further studies and exploration are planned to unlock the full potential of the project.

In other company news and events, The management acknowledges it has a "promotional" horn icon placed with OTC Markets. This is a standard operating procedure by OTC with no reason to be alarmed as the Company is current with all routine and required filings. This icon is typically removed within 15 to 30 days after the promotion ends.

We expect to file our Q3 docs well ahead of the deadline. Moreover as a company we maintain 2 separate X (twitter) accounts: the current one @hirumining (investor & corporate relations) and @hirucorpnew (communications CSR). CSR meaning investor customer service. We resumed using our old X account as it had certain valuable goodwill.

Additional news filings and regular routine updates will follow in a timely manner.

About Hiru Corporation:

Hiru Corporation (OTC Pink: HIRU) is a holding Co headquartered in Toronto Canada financial district. HIRU board members and control block holders are in Qatar and Australia. The company is primarily engaged in exploration stage mining in a massive Belfour mine project in Australia. (Core business). The main investors are a Qatari royal family member and a 7th generation one of the wealthiest landlords in Tasmania

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/225963

FAQ

What are the key findings of HIRU's (HIRU) Balfour Project feasibility study?

The study projects annual treatment of 500,000 tonnes of ore, yielding 50,000 tonnes of copper concentrate per year. It estimates Year 1 metal revenue of $73.47 million, increasing to $93.07 million by Year 10, with net revenues growing from $33.80 million to $42.81 million over the same period.

What is the projected Life of Mine (LOM) for HIRU's (HIRU) Balfour Copper Project?

The preliminary feasibility scoping study focuses on a 10-year Life of Mine (LOM) snapshot for the Balfour Copper Project in Tasmania, Australia.

Are there any by-products in HIRU's (HIRU) Balfour Copper Project?

Yes, the Balfour Project has potential for gold and silver by-products, which are commonly associated with copper deposits in Tasmania. These offer opportunities for revenue diversification and hedging against copper price volatility.

What is the current status of HIRU's (HIRU) OTC Markets listing?

HIRU (HIRU) currently has a 'promotional' horn icon on its OTC Markets listing. The company states this is standard procedure and expects it to be removed within 15 to 30 days after the promotion ends.

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