Maya Gold & Silver (TSX-V:MYA, StockForum), a Blainville Quebec-based mining exploration firm focused on precious metal properties in mining projects, announced today that the company had filed a Preliminary Economic Assessment (“PEA”) with SEDAR for its Zgounder silver mine located in Morocco.
According to the news release, the SEDAR submission follows up the release of the PEA announced on March 5, 2014 with the associated mineral resource disclosure released on February 19, 2014.
Highlights from the PEA included a 10-year potential mine life with first year production estimates of 647,000 ounces silver with the following years averaging 1.03 million ounces silver per annum.
Capex requirements are expected to hit US$3.8 million with total operating costs coming to US$113.50 million while the IRR was calculated at 174%.
Net present value at the mine totals US$65.9 million with a 6.5% discount at a silver commodity pricing of US$22.00 per ounce.
Maya Gold & Silver was in the news recently when the company release the PEA on March 5, 2014.
Shares rose 17.39% on the news to $0.54 per share.
Currently there are 115.8m outstanding shares with a market cap of $62.6 million.