Changes of Today Technical Report over 2014 FSNew larger open pit than 2014 FS open pit design
Increase strip ratio from 0.8:1 for 2014 FS to 1.4:1 for the new design
Increase reserve from 714 m for 2014 FS to 817 m for the new design
Increase throughput from 70,000 tpd for 2014 FS to 90,000 tpd for the new design
Increase average copper grade from 0.26Cu% for 2014 to 0.28Cu % for the new design
Reduction of mine life from 28 years to 25 years
Increase copper cut-off grade from0.14Cu% for 2014 FS to 0.17Cu% for the new design
Increase pre-tax NPV (8%) from $870 millions Canadian for 2014 FS to $1.3 billions Canadian for the new design. Before you get excited, the after TAX NPV (8%) is $700 millions for the new design.
Increase pre-production capital from $840 millions Canadian for the 2014 FS to $1.3 billions Canadian for the new design.
Overall, change to a larger open pit with significant higher pre-production capital required in exchange for significant higher pre-tax NPV.