Pacifico Minerals Ltd (ASX:PMY, "Pacifico") has released their September 2020 quarterly report.
What are the key highlights?
- Release of the Optimised Pre-Feasibility Study, which produced a Pre-tax NPV (8% discount) of A$303 million, IRR of 46% and payback period of ~1.6 years.
- Ore Reserve Statement confirmed a total 13.6Mt at 3.6% Pb and 40 g/t Ag of Proved and Probable Reserves underpinning 92% of the PFS Mine Plan.
- Completion of a A$10 million Placement with strong support by quality institutional and strategic shareholders.
- Commencement of Sorby Hills Definitive Feasibility Study (‘DFS’) drilling campaign comprising 5,200 m across a planned 68 holes.
- Significant project financing milestone achieved with Sorby Hills progressing to the Due Diligence Stage of the Northern Australia Infrastructure Facility (‘NAIF’) funding assessment process.