The Assay TV sat down with Joanne Freeze, President & CEO at Candente Copper (TSX:DNT).
Primary ticker: TSX:DNT
Stage of development: Development
Primary minerals: Copper
Project to promote: Cañariaco Copper
Project location: Peru
Major shareholders: Fortescue Metals Group 19.9% Management 5%
Cañariaco Norte (in Northern Peru), 100% held by Candente Copper, contains: Measured and Indicated Resources of: 7.533 B lb Cu, 1.7 M oz Au and 45.2 M oz Ag in 752.4 million tonnes grading 0.45% copper, 0.07 g/t gold and 1.9 g/t silver (0.52% Cu equivalent) and Inferred Resources of 1.434 B lb Cu, 0.3M oz Au, 8.932 M oz Ag in 157.7 million tonnes (total 9B lbs Cu, 2Moz Au, 54Moz Ag).
PFS studies estimate NPVs and IRRs of $1.06B and 17.5% at $2.50 Cu and $1.56B and 21.5% at $2.90 Cu. Incentive Price for Cañariaco in lowest quartile of top 84 copper projects named by Goldman Sachs. Cash Costs also in lowest quartile of copper industry.
Excellent expansion potential through Cañariaco Sur and Quebrada Verde all within a 5km long trend. While still in the exploration stage, 15 holes have been drilled at Cañariaco Sur.
Key Project Parameters include
• Payback of pre-production capital in 4.4 years (after-tax)
• Copper Production of 262,000,000 lb/yr
• Initial Mine life of 22 years+
• Pre-production CAPEX US$1.56B
• Throughput rate of 95,000 tonnes per day
• Operating costs of US$0.988 per pound of copper
• Minimal infrastructure required, excellent locations for all site facilities, close to existing highway and power grid & abundant water at site