8.3 C
Belgrade
04/03/2024
Mining News

Adriatic Metals rockets higher on scoping study on its Bosnia mine

Adriatic Metals an exploration and development company based in U.K., was up 21% to A$1.31 this week after announcing its scoping study for its Vareš Project in Bosnia and Herzegovina.

The company estimates that about $180 million will be needed to construct a mine, grinding mill, project
infrastructure and processing plant.

Supported by

The net present value of the mine at an 8% cash flow discount is estimated at $916 million, and the internal rate of return is 107.4%.

After completing A$25 million placement last month, the company said it is well funded to complete a definitive feasibility study, as well as metallurgical work and other technical testing.

The Vareš Project is located 50km north from Sarajevo, the capital city of Bosnia & Herzegovina.

Source: kitco.com

Related posts

Euro Sun Mining gains government support for Rovina Valley project in Romania

David Lazarevic

Navigating the future of Critical Raw Materials, innovation, and sustainable development at PDAC 2024

David Lazarevic

Teako Minerals announces strategic pivot to focus on Norway

David Lazarevic
error: Content is protected !!