Duluth, even in a "very low metal price environment"
posted on
Nov 25, 2008 07:00AM
issued their preliminary NI43-101 PEA scoping study. Note the prices they quote fro the metals.
http://www.marketwatch.com/news/stor...
Here's the first few paragraphs:
Duluth Metals new NI 43-101 Preliminary Economic Assessment confirms higher production rate and positive economics with current metal prices
Last update: 6:30 a.m. EST Nov. 25, 2008
TORONTO, Nov 25, 2008 /PRNewswire-FirstCall via COMTEX/ -- Duluth Metals Limited ("Duluth Metals") (
CA:DM:
news,
chart,
profile) (
CA:DM.U:
news,
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profile) is pleased to announce that results from a new NI 43-101 Preliminary Economic Assessment ("PEA or Scoping Study") prepared by the internationally respected consulting firm Scott Wilson Roscoe Postle Associates ("Scott Wilson RPA") have confirmed the potential of the Nokomis Deposit to support a 40,000 tonne per day ("tpd") mining operation,
even in a very low metal price environment. The new PEA examined the economics of developing and mining the Nokomis Deposit, a large polymetallic deposit in Minnesota, at a rate of 40,000 tpd over a range of metal prices as low as 1.55/lb Cu; $4.90/lb Ni; $10.00/lb Co; $795/oz Pt; $295/oz Pd; $600/oz Au. The Company is in a good cash position and intends to pursue future development of the project in a responsible fashion while preserving its cash.
The new independent NI 43-101 Scoping Study was completed by Scott Wilson Roscoe Postle Associates ("Scott Wilson RPA"). Holger Krutzelmann, P.Eng., Jason Cox, P.Eng., and Richard Routledge, P.Geo., of Scott Wilson RPA are the Independent Qualified Persons who are responsible for the report.
