Mr. Greg Johnson reports
WELLGREEN PLATINUM ANNOUNCES RELEASE OF YEAR-END REPORTS
Wellgreen Platinum Ltd. has filed its annual consolidated financial statements for the year ended Dec. 31, 2014, and the nine months ended Dec. 31, 2013, together with the auditor report thereon, the related management's discussion and analysis for the year ended Dec. 31, 2014, and the nine months ended Dec. 31, 2013, and the company's annual information form for the year ended Dec. 31, 2014. These filings are all available on the company's website and under its SEDAR profile.
Greg Johnson, Wellgreen Platinum's president and chief executive officer, stated: "We are pleased to announce the results of our annual filings, which highlight the major advancements by the company over the past year. The recent filing of the National Instrument 43-101 preliminary economic assessment technical report for the Wellgreen project in the Yukon Territory, Canada, shows that the Wellgreen project has the potential to become one of the world's largest and lowest-cost, open-pit PGM and nickel producers."
Key highlights from the 2015 PEA include:
- A large, open-pit deposit with a low strip ratio;
- Low operating and capital costs;
- Robust cash flow and strong economics, including a pretax 32.4-per-cent internal rate of return and
a posttax 25.3-per-cent IRR;
- Mid-tier-level production potential at more than 200,000 ounces of
platinum, palladium and gold with 128 million pounds of nickel and copper
annually over the first 16 years of operation;
- Opportunities for expansion of production and mine life extension from
- Highway and port accessible;
- Low-political-risk mining jurisdiction.
"Wellgreen is located in one of the world's best mining jurisdictions and, given the challenges faced by PGM mines in Southern Africa and Russia, which currently account for over 90 per cent of global PGM production, the development of a low-cost, open-pit, road-accessible PGM and nickel project in the mining-friendly Yukon Territory represents a truly unique opportunity for our company and our shareholders. We look forward to an exciting year of prefeasibility-level work and studies as we continue to advance our Wellgreen project."
A full copy of the 2015 PEA technical report can be found on the company's website and under the company's SEDAR profile.
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