Temas Resources has announced a robust Preliminary Economic Assessment (PEA) in conjunction with its partner (Erin Ventures) for the Piskanja Boron project located in Serbia.
In addition to low operating costs and a quick payback, the project should hit the sweet spot in the global push to decarbonization based on boron’s increasing importance as an important mineral component in a variety of “green” technologies.
Highlights of the PEA include the following:
– Projected free-cash flow for the project is $1.3 billion over the life of the mine, which is estimated to be 16 years.
– The gross project revenue for the project is over $2b billion.
– Payback on Capex is anticipated to be 12 months from start of commercial production.
– The PEA envisages a Run of Mine (ROM) average annual tonnage of 307,956 tonnes to produce some 261,821 tonnes of sale grade colemanite and 25,000 tonnes of boric acid for a period of 17 years.
– Project economics were estimated assuming a constant price of US$500/t for sales grade colemanite (40% purity) and US$700/t for boric acid.
– The PEA also states that there is good potential to expand the resource with further drilling.
According to the corporate presentation, “The Piskanja Boron Project is located in a historical mining region which has excellent infrastructure including paved roads, rail, electric power, experienced miners, access to seaport and river transportation and is 250km south of the capital city of Belgrade.”
Management of the respective partners added that, “While the PEA is a significant milestone for us, we are looking forward to the next developments. We have commenced the permitting process, with the data from the PEA forming the backbone of a submission to “certify the Piskanja resource” as an important step in a mine license application process.”
Temas Resources recently produced a video on the many applications of Boron. Click HERE to view.
To view the news release, please click HERE.