Adriatic Metals PLC - Cheltenham-based exploration & development firm - Reports pre-feasibility study results from Vares silver project in Bosnia & Herzegovina. Results include post-tax net present value of USD1.04 billion at 8% discount rate. Internal rate of return 113%, low upfront capital USD173 million with 1.2 years payback. Average annual earnings before interest, tax, depreciation, and amortisation in years 1 to 5 USD251 million. Probable ore reserves mined over 14-year mine life 11.1 million tonnes, annual throughput 800,000 tonnes with 88.5% conversion of indicated resources to ore reserves at Rupice.
Current stock price: 124.50 pence
Year-to-date change: up 48%
By Anna Farley; annafarley@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Adriatic Metal. (ADT1)