Candente Copper Corp. (TSX: DNT)(PINK SHEETS: CDOUF)(BVLAC: DNT)
("Candente Copper") is pleased to announce that it has filed with
the Canadian securities regulators, an NI 43-101 Technical Report
(the "Technical Report") dated March 4th, 2011 in support of the
Pre-Feasibility Study Progress Report for the Canariaco Norte
copper project in Peru (see Candente Copper NR 015, January 18th,
2011).
The Technical Report is a requirement of Canadian Securities
Regulators, and provides an excellent summary of the Canariaco
Norte copper project. It was prepared by AMEC Americas Limited
("AMEC"), and can be found on SEDAR at www.sedar.com and Candente
Copper's website at www.candentecopper.com.
The full Pre-Feasibility Study Progress Report is currently
under final review by AMEC and is scheduled for release in
mid-March. This multiple volume report will provide a comprehensive
and detailed assessment of the Canariaco Norte copper project, and
will also be made available on the Candente Copper website upon
completion.
Improved Net Present Value & Internal Rate of Return
Candente is also pleased to report that AMEC has revised the key
financial parameters of the Canariaco Norte copper project. The new
financial parameters include a significant increase in both after
tax net present value ("NPV") and internal Rate of Return ("IRR")
for the project.
The new financial parameters are:
-- After-tax NPV of US$1,063M (previously US$960M)
Base case using US$2.25 /lb Cu, US$1,015 /oz gold, US$15.85 /oz silver,
and 8% discount rate
-- After-tax IRR of 18.8% (previously 17.7%)
Base case using US$2.25 /lb Cu, US$1,015 /oz gold, and US$15.85 /oz
silver
The metal price assumptions applied in the financial analysis,
as well as the key technical parameters of the Pre-Feasibility
Study Progress Report remain unchanged, and are as reported in
Candente Copper's January 18th News Release.
"Completion of the Technical Report and the imminent completion
of the Pre-Feasibility Study Progress Report are very significant
milestones in the development of the Canariaco Norte copper
project," commented Sean Waller, President of Candente Copper. "We
have established a very solid basis for Canariaco Norte and will
quickly move ahead to the next stage of development. We are very
pleased with the revised financial parameters developed by AMEC,
and with an after-tax NPV now over one billion dollars, Canariaco
Norte is clearly an exceptional project."
Qualified Persons for NI 43-101 Technical Report
The qualified persons for the NI 43-101 Technical Report are
identified below:
Mr. David Thomas, P.Geo. Principal Geologist with AMEC and an
independent Qualified Person as set forth by NI 43-101. Responsible
for the Canariaco Norte Mineral Resource Estimate reported on
November 1, 2010 and included in the Pre-Feasibility Study Progress
Report.
Ms. Alexandra Kozak, P.Eng. Manager of Process with AMEC and an
independent Qualified Person as set forth by NI 43-101. Ms Kozak
served as AMEC's project manager for the Canariaco Norte
Pre-Feasibility Study Progress Report. Ms. Kozak is responsible for
project capital costs and financial analysis.
Mr. Tony Lipiec, P.Eng. Principal Metallurgist with AMEC and an
independent Qualified Person as set forth by NI 43-101, responsible
for metallurgy and process, process equipment capital costs,
process operating costs, and general and administration operating
costs.
Mr. Jay Melnyk, P.Eng. Principal Mining Engineer with AMEC and
an independent Qualified Person as set forth by NI 43-101,
responsible for mine design and mine capital and operating
costs.
About Candente Copper
Candente Copper Corp is a TSX and BVL listed mining company
focused on exploration and development of base metal mining
projects in Peru and Latin America. Candente Copper's flagship
project is the 100% owned Canariaco Norte copper project located in
northern Peru's prolific mining district.
Sean Waller, P.Eng., President and Stacy Freudigmann, P.Eng.,
Candente Project Manager are the Qualified Persons as defined by
National Instrument 43-101 for the projects discussed above. They
have reviewed and approved the contents of this release.
This news release contains forward-looking statements including
but not limited to comments regarding the timing and content of
upcoming work programs, results of financial analyses, geological
interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future
events and conditions and therefore involve inherent risks and
uncertainties. The mine design and tailings management facility
design are based on limited geotechnical data and may change when
additional geotechnical data is made available. The economic
analysis is based on measured and indicated mineral resources,
which are not mineral reserves and do not have demonstrated
economic viability. Actual results may differ materially from those
currently anticipated in such statements. Candente relies upon
litigation protection for forward-looking statements.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors of terms that are not recognized by the
United States Securities and Exchange Commission ("SEC"), including
"mineral resources", "measured resources", "indicated resources"
and "inferred resources". The estimation of measured and indicated
resources involves greater uncertainty as to their existence and
economic feasibility than the estimation of proven and probable
reserves. U.S. investors are cautioned not to assume that mineral
resources in these categories will be converted to reserves. The
estimation of inferred resources involves far greater uncertainty
as to their existence and economic viability than the estimation of
other categories of resources. U.S. investors are cautioned not to
assume that estimates of inferred mineral resources exist, are
economically mineable, or will be upgraded into measured or
indicated mineral resources. U.S. investors are cautioned not to
assume that mineral resources in any of these categories will be
converted into reserves.
On behalf of the Board of Candente Copper Corp.
Sean Waller P.Eng., President & Director
NR-020
Contacts: Candente Copper Corp. John Foulkes VP Corporate
Development mobile: +1 (604) 614-2999 or local: +1 (604) 689-1957
ext 2 toll free: 1 (877) 689-1964 ext 2 info@candentecopper.com
Candente Copper Corp. Walter Spagnuolo Manager, Investor Relations
mobile: +1 (604) 306-8477 or local: +1 (604) 689-1957 ext 3
Candente Copper Corp. Nataly Reategui Investor Relations, Peru
(511) 715-2001 ext 107 (511) 717-1233 (FAX) nreategui@candente.com
www.candente.com
Candente Copper (TSX:DNT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Candente Copper (TSX:DNT)
Historical Stock Chart
From Jul 2023 to Jul 2024