Denarius Metals Raises US$15M, and announces a long-term agreement for the sale of concentrates from its Zancudo project
FRC Opinion: Positive – Funds will be used towards a 10,000 m drill program to potentially upgrade inferred resources to the indicated category. DSLV is on schedule to advance the project to production this year.
The company has also secured an offtake agreement with Trafigura, a prominent global commodities trading company, for the sale of its concentrates. A recently completed Preliminary Economic Assessment (PEA) returned robust economics, with an ATNPV5% of US$206M, and a very high AT-IRR of 287%, using US$1,800/oz gold, and US$22/oz silver.
*FRC provides issuer paid coverage.
*Past performance is not indicative of future results.