Denarius looks to reopen Aguablanca nickel-copper mine in Spain

The
PFS
gives
the
underground
Aquablanca
project
a
further
six
years
of
life.
The
net
present
value
with
a
5%
discount
is
$83.1
million
with
an
after-tax
internal
rate
of
return
of
213%
with
payback
occurring
by
the
end
of
2025.
The
pit
is
to
be
dewatered
and
mining
begin
from
underground.
Only
50%
of
the 
mill’s
capacity
will
be
used
for
Aguablanca,
and
the
remaining
capacity
will
treat
ore
from
the
Lomero
project.

At
long-term
nickel
and
copper
prices
of
$7.30
per
pound
and
$3.50
per
pound,
respectively,
total
life
of
mine
undiscounted
after-tax
project
cash
flow
from
mining
operations
amounts
to
$105.7
million.

The
Aguablanca
mine
will
produce
a
total
of
43.2
million
lb.
nickel
and
34.6
million
lb.
copper
plus
gold,
platinum,
and
palladium.
All-inclusive
sustaining
costs
per
pound
of
nickel
produced
will
be
$4.04.

Denarius
reports
that
it
has
several
potential
customers
in
Europe
willing
to
take
the
concentrates
from
the
mine.

When
mining
ended
in
2015,
there
remained
measured
and
indicated
resources
of
6.4
million
tonnes
grading
0.63%
nickel
and
0.56%
copper.
There
was
also
an
indicated
resource
of
242,000
tonnes
at
0.52%
nickel
and
0.42%
copper.