Wow...highlights....Highlight (emphasis added):
Updated Malku Khota economic assessment study doubles mine throughput to 40,000 tonnes per day (tpd) for a 15 year mine life with excellent potential for extension through additional drilling. Annual silver production for the first 5 years of 13.2 million ounces at a cash cost of $2.94 per ounce net of by-product credits at "base case" metal prices putting it in the lower quartile of producer costs. Annual production 80 tonnes per year of indium and 15 tonnes of gallium. Pre-tax NPV at a 5% discount rate of $704 million and IRR of 37.7% at "base case" metal prices of $18.00/oz silver, and $500/kg indium, increasing to a NPV5% of $1.536 billion and IRR to 64.3% at "middle price case" of $25.00/oz silver, and to a NPV5% of $2.571 billion at the "recent price case" of $35/oz silver. Cash flows for the first 5 years increase to average $185 million per year at the base case, to $287 million per year at the middle case and to $430 million per year for the recent price case. Updated resource estimate expands Measured and Indicated resources 60% to 230 million ounces of silver with an additional Inferred resource of 140 million ounces of silver. 2010 drill program successfully confirms the geologic model with over 80% of the life-of-mine silver resources classified as the Measured and Indicated category in the pit model. During the construction phase approximately 1,000 new jobs would be created in the region with over 400 employees likely during operations. Budget of $16 million approved for 2011 with Pre-Feasibility activities beginning in Q2