Vancouver — The initial batch of cathodes at Frontera Copper’s (FCC-T, FRCPF-O) Piedras Verdes mine in Sonora state, Mexico have been stripped to yield the company’s first metal production.
The cathodes mark the beginning of commercial production at the solvent extraction-electrowinning (SX-EW) project, scheduled to produce almost 32,000 tonnes (70 million lbs.) of LME Grade “A” copper cathode annually over its initial 12 years. The open-pit heap-leach operation has a projected 18-year mine life with life-of-mine cash operating costs expected at US79 per lb. of copper including a 3% net smelter royalty.
Piedras Verdes is a porphyry deposit with ore consisting of oxide copper (chrysocolla and neotocite/tenorite), limonitic copper, copper oxides with native copper and cuprite, chalcocite, and mixed oxide-chalcocite mineralization. Proven and probable reserves stand at 191 million tonnes grading 0.36% copper with additional resources identified adjacent to and below the open pit.
With its 48.7 million shares outstanding, the company posts a $244-million market capitalization at its recent $5.00 trading level.
Be the first to comment on "Frontera harvests copper cathodes at Piedras Verdes"