{"id":8979,"date":"2024-05-01T00:18:41","date_gmt":"2024-05-01T00:18:41","guid":{"rendered":"https:\/\/economicherald.net\/?p=8979"},"modified":"2024-05-01T00:18:41","modified_gmt":"2024-05-01T00:18:41","slug":"low-cost-high-margin-long-life-qmines-delivers-study-to-put-mt-chalmers-copper-project-well-into-the-profit-zone","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8979","title":{"rendered":"\u2018Low cost, high margin, long life\u2019: QMines delivers study to put Mt Chalmers copper project well into the profit zone"},"content":{"rendered":"<p>PFS at Mt Chalmers project envisages $636m free cashflow over initial 10-year life<br \/>\nMine to produce 65,000t copper, 160,000oz gold, 30,600t zinc and 1.8Moz silver<br \/>\nNPV of $373m, 54% IRR<br \/>\n\u201cMt Chalmers represents a low cost, high margin and long-life project with immediate upside,\u201d says QML\u2019s Andrew Sparke<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>: A pre-feasibility study (PFS) on QMines\u2019 flagship Mt Chalmers copper project 17km north-east of Rockhampton in QLD is showing great metrics for a profitable +10 year mine development.<\/strong><\/p>\n<p>It\u2019s a great time to be a copper developer, as <a href=\"https:\/\/stockhead.com.au\/resources\/bargain-barrel-experts-think-copper-can-hit-new-records-as-soon-as-2025-these-10-stocks-under-a-20m-mc-are-ready-to-run-with-the-bulls\/\"><strong>forecast price rises<\/strong><\/a> associated with the global energy transition and significant supply issues look to drive the red metal\u2019s bull run.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/qmines-qml\/\"><strong>QMines\u2019 (ASX:QML)<\/strong><\/a> Mt Chalmers asset is centred on a high-grade historical mine which produced 1.2Mt at 2% copper, 3.6g\/t gold and 19g\/t silver between 1898-1982.<\/p>\n<p>Including the recently acquired Develin Creek project, QML\u2019s global resource now sits at a combined 15.1Mt at 1.3% Cu containing 195,800t.<\/p>\n<p>\u00a0<\/p>\n<p>The Mt Chalmers and the Develin Creek copper-zinc projects. Pic supplied: (QML)<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Mt Chalmers Pre Feasibility Study<\/strong><\/h2>\n<p>A new PFS \u2013 a detailed look at the economics of building a project \u2013 envisages Mt Chalmers as a shallow, high-grade, three-stage open pit project with high recoveries, low capex and an initial 10.4 year mine life with immediate opportunities to grow the scale of the operation.<\/p>\n<p>Able to be profitably extracted to a depth of 220m, the PFS shows the proposed mine will use a 1Mtpa plant to process 65,000t copper, 160,000oz gold, 30,600t zinc, 1.8Moz silver and 583,000t pyrite.<\/p>\n<p>Development boasts an excellent internal rate of return (IRR) and net present value (NPV) of 54% and $373.4m, with life of mine free cashflow of $636m.<\/p>\n<p>It would take just 1.84 years to pay back the $191.9m construction cost.<\/p>\n<p>\u00a0<\/p>\n<p>The three stage open pit model of the Mt Chalmers project. Pic supplied: (QML)<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>A high confidence Mt Chalmers Maiden Ore Reserve of 9.6Mt (Proved &amp; Probable) was also declared.<\/p>\n<p>QML says there is more growth to come, as resources just 800m away from Mt Chalmers at Develin Creek (Sulphide City &amp; Scorpion) and Woods Shaft are not currently in the mine plan.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018Low cost, high margin, long life project\u2019<\/strong><\/h2>\n<p>\u201cThe completion of the Pre-Feasibility Study represents a significant milestone for the business and our shareholders as we continue to demonstrate Mt Chalmers is a project with scale and potential for development,\u201d QML executive chair Andrew Sparke says.<\/p>\n<p>\u201cThe company has demonstrated that Mt Chalmers can be commercialised using industry standard treatment processes and techniques.<\/p>\n<p>\u201cWith improving base metals prices associated with supply constraints, Mt Chalmers represents a low cost, high margin and long-life project with immediate upside from three satellite deposits and a large exploration package.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with QMines, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/low-cost-high-margin-long-life-qmines-delivers-study-to-put-mt-chalmers-copper-project-well-into-the-profit-zone\/\">\u2018Low cost, high margin, long life\u2019: QMines delivers study to put Mt Chalmers copper project well into the profit zone<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>PFS at Mt Chalmers project envisages $636m free cashflow over initial 10-year life Mine to produce 65,000t copper, 160,000oz gold, 30,600t zinc and 1.8Moz silver <a href=\"https:\/\/economicherald.net\/?p=8979\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8980,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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