Abacus Mining & Exploration Corp.

Abacus is a mineral exploration and mine development company with a 20% interest in the Ajax Project located at the historic Ajax-Afton site southwest of Kamloops, B.C. The Ajax Project is a proposed copper-gold open-pit mine currently in the submission stage of a provincial and federal environmental assessment process. Through KGHM Ajax Mining Inc., a joint venture company between Abacus (20%) and KGHM Polska Miedz S.A. (KGHM) (80%), the mine is being funded in large part by KGHM and operated by its wholly-owned subsidiary, KGHM International Ltd.

Positive NI-43-101 Feasibility Study Update - January 13, 2016
Supersedes Feasibility Study of January 6, 2012
  • Total proven and probable mineral reserves of 2.7 bil lbs Cu, 2.6 mil oz Au and 5.3 mil oz Ag at 0.29% Cu, 0.19 g/t Au and 0.39 g/t Ag.*
  • 18 year mine life at avg processing rate of 65,000 tpd; overall stripping ratio of 2.65:1
  • Avg annual production of Cu and Au in concentrate of 58,000t Cu and 125,000 oz Au
  • Initial capital expenditures of $1.307 billion
  • Pre-tax NPV (8%) = $429.4 M Pre-tax NPV (5%) = $872.5 M
  • Pre-Tax IRR 13.4%; payback (years) 6.5
*Based on LOM metal prices of Cu: US$3.21/lb, Au: US$1,200/oz, Ag: US$17/oz

Key changes from the January 2012 Feasibility Study
  • Project site relocation from the north to the south side of the mine pit
  • Change in mining plans from 60,000 t/d to 65,000 t/d
  • Change in tailings technology
  • Addition of a fine ore stockpile
  • Further definition of mineral resources and mineral reserves

Apr 19, 2016
Apr 01, 2016
Feb 23, 2016
Jan 13, 2016
Dec 29, 2015

Symbol: TSX-V: AME
Last: $0.05
Volume:  27000
Change:  even
15-20 min delay

  RSS Feed

Ajax Project Application/EIS Summaries
Ajax Project Application EIS Summaries

KGHM Ajax Mining Inc.
KGHM Ajax Mining Inc.
visit website

Support AJAX MINE.

Adnet Communications Inc.