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Los Andes Copper Ltd. is a Canadian exploration and development company focused on the acquisition, exploration and development of advanced stage copper deposits in Latin America. The company’s current focus is the Vizcachitas porphyry copper-molybdenum project, located 130km north of Santiago, in an area of good infrastructure.
The property contains a NI 43-101 compliant Indicated Resources of 1,038 Mt @ 0.434 % Cu Eq (0.373 % Cu and 0.012 % Mo), containing an estimated 8.5 billion pounds of copper and 281 million pounds of molybdenum, and the Inferred Resources are 318 Mt @ 0.405 % Cu Eq (0.345 % Cu and 0.013 % Mo) containing an estimated 2.4 billion pounds of copper and 88 million pounds of molybdenum using a 0.3 % copper equivalent (Cu Eq) cut-off1.
The company has completed a Preliminary Economic Assessment (PEA) on the project where the base case has a life of mine of 28 years, initial capital expenditures of $2.9 billion, sustaining capital expenditure of $0.7 billion, and considered flat projected copper prices of $2.75/lb and molybdenum prices of $13.64/lb.
On a pre-tax basis, the base case, results in an NPV of $746 million, internal rate of return (IRR) of 11.4%, and an estimated payback period from initial commercial operations (Payback Period) of 5.9 years. On an unlevered after-tax basis, the base case, results in an NPV of $274 million, IRR of 9.5%, and a Payback Period of 6.0 years.
Note: The Preliminary Economic Assessment is considered preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Preliminary Economic Assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
1Copper equivalent grade (Cu Eq) has been calculated using the following expression: Cu Eq (%) = CuT (%) + 4.95 x Mo (%), where 4.95 reflects the Mo/Cu price ratio
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