Dr. Marc-Antoine Audet reports
SAMA RESOURCES REPORTS ON SRGA'S POSITIVE PRELIMINARY ECONOMIC ASSESSMENT AND RESOURCE ADDITIONS AT LOLAA PRE-TAX IRR OF 35% OVER A 16-YEAR MINE LIFE
Sama Resources Inc. investment SRG Graphite Inc. has released results of a preliminary economic assessment study for the development of SRG's Lola graphite project in the Republic of Guinea, West Africa.
The PEA was prepared by Montreal-based Met-Chem, a division of DRA Americas Inc. All dollar figures are in United States dollars.
Highlights of the Lola graphite PEA:
Production of 50,200 tons of graphite concentrate per year over a 16-year mine life;
- Capital costs of $105-million including contingency of $15-million;
- Operational costs of $372/tonne of concentrate and $130/t of transport;
- Pretax net present value (8 per cent) of $204-million (posttax NPV (8 per cent) of $121-million) at an average sales price of $1,328/t;
- Finished grade of over 94 per cent and up to 98 per cent over all size fractions;
- Strip ratio of 0.39.
The PEA follows the mineral resource estimate published on June 18, 2018. A technical report detailing the PEA, and completed in accordance with National Instrument 43-101 guidelines, will be filed and available on SEDAR within 45 days from June 18, 2018, the release date of the mineral resource update published by SRG.
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa. Sama holds a control position in SRG of 24,658,267 shares, representing 35.54 per cent of the issued and outstanding shares of SRG, and is considered an insider for reporting purposes.
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