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.
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.
- An Israeli gas pipeline to Turkey and Europe
- What Are The Major Natural Resources Of Macedonia?
- Dundee reports record gold production in second quarter in Bulgaria
- Polish ZGH Boleslav accused of polluting Montenegro rivers from its lead zinc mine Suplja Stijena
- Romania Baia Mare Cyanide Spill by Esmeralda Exploration Australia
- Cunico Resources operations in Macedonia & Kosovo, links with Gabriel Resources-Romania Rosia Montana
- Commissioning activities ramping up at Spain tungsten project
- Rio Tinto is ecological catastrophe for Serbian citizens
- New Turkish gold mine to contribute 100-ton annual gold production target
- Rio Tinto faces charges from Serbian NGO’s