Re: ZEN's financial state...
in response to
by
posted on
Jun 08, 2015 08:53AM
Hydrothermal Graphite Deposit Ammenable for Commercial Graphene Applications
Hopefully below will provide some calrity as to how much money has been spent and how much is needed going forward to get to The FS. Excerpt from RE release :
The Claim Block 4F Property hosts a significant hydrothermal graphite deposit and merits considerable work.
RPA recommends a Phase 1 budget of C$4.21 million (Table 26-1) to advance the Albany graphite deposit and explore elsewhere on the Property. Work should include:
A Preliminary Economic Assessment; • 1,200 m of drilling for geotechnical purposes; • a marketing study; • continued metallurgical testwork; • various social and environmental baseline studies; and • 5,000 m of drilling to define the extents of the deposit.
TABLE 26-1 PROPOSED BUDGET Zenyatta Ventures Ltd. - Albany Graphite Deposit
Item C$ Preliminary Economic Assessment 150,000
Marketing Study 100,000
Metallurgical Testwork 1,150,000
Social Study 50,000
Environmental Studies 250,000
Geotechnical Study Including Drilling 360,000 Drilling (5,000 m at $300/m total cost) 1,500,000
Operating costs/office 250,000
Sub-total 3,810,000
Contingency 400,000
Total 4,210,000
The recommended Phase 2 budget of C$5 million would be contingent on Phase 1 results. Work would include additional drilling, metallurgical testwork, and a Preliminary Feasibility Study.