RE: News update
Tamerlane clarifies zinc cash cost for Pine Point
2012-02-17 16:08 ET - News Release
Mr. Mike Willett reports
TAMERLANE CLARIFIES UPDATED NI 43-101 TECHNICAL REPORT ANNOUNCEMENT
Tamerlane Ventures Inc. wishes to clarify the zinc cash cost per pound of production referred to in the company's announcement of its updated NI 43-101 technical report for the R-190 area, issued earlier today.
In the announcement, the overall zinc cash cost per pound of production for the first six underground deposits is shown as 20 cents per pound. This amount refers to the mine site cash cost only, not including concentrate treatment charges and shipping costs to the smelter.
Although it is too early to precisely predict treatment charges and shipping costs for Pine Point's anticipated start of production in 2014, the company has used a treatment charge estimate of $200 per dry metric tonne in its economic model. Using this treatment charge and shipping costs, which are outlined in the NI 43-101 technical report, the total cash cost per pound of production is estimated at 49 cents.