Copper Product Ion Planned FOR 20 21 Year -End at Kombat Mi Ne IN Nami Bi a
COPPER PRODUCT ION PLANNED FOR 20 21 YEAR -END AT
KOMBAT MI NE IN NAMI BI A
TORONTO, May 6, 2021 – Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”)
announced today that procurement activities of long lead items are currently underway for the
restart of Kombat Mine (the “Project”). The Company anticipates production to resume by the
end of 2021.
Management anticipates initial production at Kombat will be 6,000t of copper in concentrate for
calendar year 2022, with initial mining beginning late 2021 accessing ore from open pit sources.
Planned production will increase to 16,500t of copper in concentrate in 2024, when higher grade
underground ore begins to be recovered and as planned upgrades to crushing and milling are
incorporated.
Commenting, Jed Richardson, President & CEO, “The order of long lead time items marks a
point of no return in the restart process. Given the response from debt finance and the strength
of the copper price, we are confidently moving forward with our production plans. We are
targeting first concentrates to be shipped before year-end 2021 and positive cash flow in 2022.”
The Company has completed an order to Xinhai (Yantai) Mining Engineering Co., Ltd
(“Xinhai”), for the procurement of new flotation cells to replace those in the original mill. The
equipment utilizes high functioning, top quality technology. Going forward, the ongoing
partnership between Trigon and Xinhai will centre on its role as an equipment supplier. Trigon
will not pursue a financing arrangement with Xinhai or utilize any Chinese export credit facilities
at this stage, and will instead aim to secure purchaser debt finance for the restart with the help
of concentrate off takers.
According to the Company’s 2018 Feasibility Study for the Kombat open pit restart, the upfront
capital cost for the Project, which includes the costs of refurbishment of the processing plant,
installation of power infrastructure and mobilization of the mining contractor (including
appropriate contingencies on all capital costs) is USD6.4 million. At present, approximately 40%
of that figure has been spent, and the Company has realized some material cost savings. While
much of the equipment from the old plant is in good working order, the Company has secured
spares at low cost from other operations in Namibia.
Qualified Person
The technical information presented in this press release has been reviewed and approved for
disclosure by Fanie Müller, P.Eng, VP Operations of Trigon, who is a Qualified Person as
defined by NI 43-101.
Trigon Metals Inc.
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Trigon is a publicly traded Canadian exploration and development company with its core business
focused on copper and silver holdings in mine-friendly African jurisdictions. Currently the company
has operations in Morocco and Namibia. The Company recently finalized the acquisition of the
Silver Hill project, a highly prospective copper and silver exploration project in Morocco. Namibia
is one of the world’s most prospective copper regions, where Trigon has substantial assets in
place. The Company holds an 80% interest in five mining licences in the Otavi Mountainlands, an
area of Namibia widely recognized for its high -grade copper deposits, where the Company is
focused on exploration and re-development of the previously producing Kombat mine.
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements
regarding the restart of Kombat Mine, the timing of the restart of the Project, the expected costs
of restarting the Project, the Company’s ability to finance the Project, future exploration programs,
the potential mineral production and throughput of the Project; the Company’s strategies and the
Company’s abilities to execute such strategies, the Company’s expectations for the Kombat
Project, the Company’s future plans and objectives. These statements are based on current
expectations and assumptions that are subject to risks and uncertainties. Actual results could
differ materially because of factors discussed in the management discussion and analysis section
of our interim and most recent annual financial statements or other reports and filings with the
TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any
obligation to update any forward-looking statements, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information, contact:
Jed Richardson
+1 647-276-6001
Website: www.trigonmetals.com