Thursday, January 20, 2011 - Iberian Minerals Corp. (TSX VENTURE:
IZN) today announced preliminary production results for 2010 and
issued production guidance for 2011.
Mr. Daniel Vanin, President and CEO, stated "We are pleased with
the production results at both Iberian operations in 2010. The
Aguas Tenidas operation, having been expanded and with enhancements
to the polymetallic circuit, is now delivering consistent
production results while Condestable mine continues to deliver
reliable results."
Peruvian Operations:
Operations at the Condestable Mine remain in a steady state with
tonnage of ore processed slightly over plan in 2010. Copper
production for 2010 was 98% of previously issued guidance due to
lower copper head grade. Silver production in 2010 exceeded plan by
45%. The average copper ore head grade for 2010 was 1.16% versus a
budgeted copper ore head grade of 1.23%.
The following are the preliminary production results for the
Condestable Mine operation for the year ended December 31,
2010:
----------------------------------------------------------------------------
Production Unit Q1 Q2 Q3 Q4 2010
----------------------------------------------------------------------------
Ore processed T 551,700 550,700 564,500 567,600 2,234,500
----------------------------------------------------------------------------
Concentrate DMT 21,300 23,000 24,600 23,400 92,300
----------------------------------------------------------------------------
Contained copper T 5,335 5,830 6,100 5,890 23,155
----------------------------------------------------------------------------
Fine gold Oz 3,260 4,020 3,390 3,210 13,880
----------------------------------------------------------------------------
Fine silver Oz 66,050 65,660 76,340 82,950 291,000
----------------------------------------------------------------------------
Spanish Operations:
Operations at Aguas Tenidas realized significant achievements in
2010. A 30% plant and mine expansion project was completed during
the year which now allows for daily operations at 6,000 t
(equivalent of 2.2 Mtpa).
The following are the highlights for the Aguas Tenidas Mine
operation for the year ended December 31, 2010:
-- Preliminary production results:
----------------------------------------------------------------------------
Production Unit Q1 Q2 Q3 Q4 2010
----------------------------------------------------------------------------
Copper Ores
----------------------------------------------------------------------------
Ore processed T 281,700 276,600 362,300 252,600 1,173,200
----------------------------------------------------------------------------
Concentrate DMT 19,400 18,210 24,910 18,020 80,540
----------------------------------------------------------------------------
Contained copper T 4,540 3,950 5,390 3,980 17,860
----------------------------------------------------------------------------
Fine silver Oz 64,470 58,340 77,100 92,940 292,850
----------------------------------------------------------------------------
Recovery rate % 86 82 82 81 83
----------------------------------------------------------------------------
Copper grade % 1.88 1.79 1.82 1.94 1.84
----------------------------------------------------------------------------
Polymetallic Ores
----------------------------------------------------------------------------
Ore processed T 75,900 105,200 98,700 228,200 508,000
----------------------------------------------------------------------------
Copper concentrate DMT - 2,340 1,850 4,270 8,460
----------------------------------------------------------------------------
Bulk concentrate DMT 6,070 - - - 6,070
----------------------------------------------------------------------------
Lead concentrate DMT - - - 1,180 1,180
----------------------------------------------------------------------------
Zinc concentrate DMT 5,960 9,160 5,970 15,100 36,190
----------------------------------------------------------------------------
Contained copper T 630 520 370 950 2,470
----------------------------------------------------------------------------
Contained lead T - - - 220 220
----------------------------------------------------------------------------
Contained zinc T 2,930 4,630 2,830 7,140 17,530
----------------------------------------------------------------------------
Fine silver Oz 73,100 138,610 104,870 87,100 403,680
----------------------------------------------------------------------------
Copper recovery rate % - 41 38 36 37
----------------------------------------------------------------------------
Copper grade % 1.27 1.38 1.08 1.13 1.18
----------------------------------------------------------------------------
Zinc recovery rate % 64 60 61 63 63
----------------------------------------------------------------------------
Zinc grade % 6.11 7.02 4.91 4.97 5.51
----------------------------------------------------------------------------
-- In Q4 the operation realized its best quarterly production results with
record combined throughput of processed ores and record production of
zinc.
-- The polymetallic circuit delivered metallurgical results in line with
targets.
-- A lead concentrate of saleable quality was produced for the first time
in Q4 with a concentrate grade of 19%. Work is on-going to improve the
grade to a target of 40% through the installation of new column cells in
Q1 of 2011.
-- Plant throughput on the copper circuit in Q4 was impacted by a breakdown
in the drive components of the copper SAG mill.
2011 Production Guidance
The Company is targeting the following guidance figures for the
Condestable and Aguas Tenidas mines in 2011:
Condestable Mine:
-- Production:
------------------------------------------
Production Unit 2011
------------------------------------------
Ore processed t 2,290,600
------------------------------------------
Concentrate DMT 93,700
------------------------------------------
Contained copper t 23,900
------------------------------------------
Fine gold oz 15,500
------------------------------------------
Fine silver oz 289,300
------------------------------------------
-- Average head grade of approximately 1.15% Cu, and recovery rate of 90%
per year.
-- Cash operating costs of $1.15 per payable pound of copper.
Approved capital expenditure budget for Condestable Mine for
2011 is $10.2 million which includes the completion of a 10% plant
expansion. Plant expansion activities commenced in late 2010 with
expected ramp-up to 6,600 tpd in Q3 of 2011. At a total budgeted
cost of $11.7 million, the objective of the plant expansion is to
maintain current levels of copper metal production in light of
decreasing average copper ore head grade in the mine. The expansion
is being funded through leasing arrangements and operating cash
flows.
Aguas Tenidas Mine:
-- Production:
-------------------------------------------
Production Unit 2011
-------------------------------------------
Ores processed (total) t 2,200,000
-------------------------------------------
- Copper Ores t 1,310,000
-------------------------------------------
- Polymetallic Ores t 890,000
-------------------------------------------
Copper concentrate DMT 115,000
-------------------------------------------
Zinc concentrate DMT 69,000
-------------------------------------------
Lead concentrate DMT 8,500
-------------------------------------------
Contained copper t 25,000
-------------------------------------------
Contained zinc t 33,900
-------------------------------------------
Contained lead t 3,700
-------------------------------------------
Fine silver oz 730,000
-------------------------------------------
-- Average head grade (copper ores) of approximately 2.0% Cu, and recovery
rate of 83% per year.
-- Average head grade (polymetallic ores) of approximately 5.8% Zn and
recovery of 66%; head grade of approximately 1.0% Cu and recovery of
42%.
-- Cash operating costs of $1.75 for 2011 per payable pound of copper.
Approved capital expenditure budget for Aguas Tenidas Mine for
2011 is $28 million with a focus on advancing mine development for
the medium term mining plan. Other major projects expected to be
completed during 2011 are: lead circuit upgrades, completion of
phase two of the raising of the tailings dam, new fleet of larger
capacity ore/waste haulage trucks for the mine. These capital
expenditures are expected to be funded by cash flow from
operations.
Cash Operating Cost per pound of payable copper includes cash
operating costs, including treatment and refining charges
("TC/RC"), freight and distribution costs, and is net of by-product
metal credits (zinc, gold and silver). The Cash Operating Cost per
pound of payable copper indicator is consistent with the widely
accepted industry standard established by Brook Hunt and is also
known as the C1 cash cost.
About Iberian Minerals Corp.
Iberian Minerals Corp. is a Canadian listed global base metals
company with interests in Spain and Peru. The Condestable Mine,
located in Peru approximately 90 km south of Lima operates at 2.2
million tonnes per year producing copper, and associated silver and
gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia
region of Spain approximately 110 km north-west of Seville and
operates a 2.2 million tonnes per year underground mine and
concentrator that produces copper, zinc and lead concentrates that
also contain gold and silver.
FORWARD LOOKING STATEMENTS:
This news release contains certain "forward-looking statements"
and "forward-looking information" under applicable securities laws.
Except for statements of historical fact, certain information
contained herein constitutes forward-looking statements.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", and other similar words, or statements
that certain events or conditions "may" or "will" occur. Forward
looking information may include, but is not limited to, statements
with respect to the future financial or operating performances of
the Corporation, its subsidiaries and their respective projects,
the timing and amount of estimated future production, estimated
costs of future production, capital, operating and exploration
expenditures, the future price of copper, gold and zinc, the
estimation of mineral reserves and resources, the realization of
mineral reserve estimates, the costs and timing of future
exploration, requirements for additional capital, government
regulation of exploration, development and mining operations,
environmental risks, reclamation and rehabilitation expenses, title
disputes or claims, and limitations of insurance coverage.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are based on
a number of assumptions and subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. Many of these assumptions are based on
factors and events that are not within the control of the
Corporation and there is no assurance they will prove to be
correct. Factors that could cause actual results to vary materially
from results anticipated by such forward-looking statements include
changes in market conditions and other risk factors discussed or
referred to in the section entitled "Risk Factors" in the
Corporation's annual information form dated March 29, 2010.
Although the Corporation has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be anticipated, estimated or intended. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The
Corporation undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking
statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Iberian Minerals Corp. Laura Sandilands Investor
Relations and Corporate Communications 416-815-8558
InZinc Mining (TSXV:IZN)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
InZinc Mining (TSXV:IZN)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
