SRG Mining Inc. Announces the Filing of its Feasibility Study for the Lola Graphite Project in the Republic of Guinea, West Africa
SRG Mining Inc. Announces the Filing of its
Feasibility Study for the Lola Graphite Project
in the Republic of Guinea, West Africa
MONTREAL
,
Aug. 19, 2019
/CNW Telbec/ -
SRG Mining Inc.
(TSXV: SRG) ("SRG" or the
"Company") is pleased to announce that today, it has filed the Feasibility Study ("FS") for the
development of the Lola graphite project in the Republic of
Guinea
,
West Africa
, for which the
results were announced on
July 4
th
, 2019. The FS was prepared by Montréal-based DRA/Met-
Chem, a division of DRA Americas Inc. ("DRA/Met-Chem"). All dollar figures are in
United States
dollars.
The following lists the highlights of the FS:
Average annual production of 54,600 tonnes of graphite flakes over a 29-year mine life;
Proven & probable reserves of 42.0Mt @ 4.17% Cg;
Capital costs of
$123 million
("M") including a power plant of
$5.8M
, concentrate transport
equipment of
$3.6M
, and contingency of
$12M
;
Added flexibility of the plant to process soft saprolite and fresh rock, provides optionality and
the ability to expand the production profile;
Average operational costs of
$470
/tonne ("t") and
$38
/t of transport. For the first 16 years of
production, the average operational costs are
$447
/t;
Pre-tax NPV (8%) of
$277M
and internal rate of return ("IRR") of 28%;
Post-tax NPV (8%) of
$159M
and IRR of 21%;
Average grade of graphite flakes over 95%;
A low strip ratio of 0.69.
The report can be found on the Company's website at the following
link
or on
www.sedar.com
.
About DRA/Met-Chem
Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting
engineering company, headquartered in
Montreal
, and provides a wide range of technical and
engineering services. DRA is a multidisciplinary global engineering group that delivers mining, mineral
processing, energy, water treatment and infrastructure services from concept to commissioning and
into operation. DRA has offices in
Africa
,
Australia
,
Canada
,
China
and
the United States
.
ABOUT SRG MINING
SRG Mining is a Canadian-based mining company focused on developing the Lola graphite deposit
located in the Republic of
Guinea
,
West Africa
. SRG is committed to operating in a socially,
environmentally, and ethically responsible manner.
For additional information, please visit SRG's website at
www.srgmining.com
.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of Canadian securities
legislation. All information contained herein that is not clearly historical in nature may constitute
forward-looking information. Generally, such forward-looking information can be identified by the use
of forward-looking terminology such as "will", "continue", "demonstrate", "potential", or variations of
such words and phrases or state that certain actions, events or results "may", "could", "would" or
"might". Forward-looking information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward-looking
information, including but not limited to: (i) volatile stock price; (ii) the general global markets and
economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits; (v) the risk associated with
establishing title to mineral properties and assets; (vi) fluctuations in commodity prices and other
risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the
Company and which is available at
www.sedar.com
, all of which should be reviewed in conjunction
with the information found in this news release
Forward-looking information is based on assumptions management believes to be reasonable at the
time such statements are made, including but not limited to, continued exploration activities and no
material adverse change in mineral prices. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in the
forward-looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such forward-looking information will prove
to be accurate, as actual results and future events could differ materially from those anticipated in
such forward-looking information. Such forward-looking information has been provided for the
purpose of assisting investors in understanding the Company's business, operations and exploration
plans and may not be appropriate for other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking information is given as of the date of this
press release, and the Company does not undertake to update such forward-looking information
except in accordance with applicable securities laws.
SOURCE
SRG Mining Inc.
View original content:
http://www.newswire.ca/en/releases/archive/August2019/19/c6578.html
%SEDAR: 00008697E
For further information:
Ugo Landry-Tolszczuk, Email: [email protected];
Benoit La Salle, FCPA FCA, Email: [email protected]
CO: SRG Mining Inc.
CNW 07:00e 19-AUG-19