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Mine Life of 22 years and an after-tax NPV of $1.8 Billion The King-king Copper-Gold deposit is an advanced-stage project located in the Compostela Valley on the southeastern island of Mindanao in the Philippines.King-king is listed as one of the top priority projects by the Philippine Mines and Geosciences Bureau and is expected to produce over the 22 year mine life: 3.16B lbs of copper 5.43M oz of gold 11.65M oz of silver Construction of King-king is expected to commence in 2015, with production starting in 2016-2017. On average, the mine will be producing 138 million pounds of copper, 236,169 ounces gold and 506,504 ounces of silver annually.The King-king tenement is comprised of 184 mining claims that are owned by Nationwide Development Corporation (NADECOR) under Mineral Production Sharing Agreement #009-92-XI (the MPSA), approved by the Government of the Philippines on May 27, 1992, and amended December 11, 2002.The MPSA grants NADECOR the exclusive right to explore, develop and exploit minerals within the area comprising the King-king deposit.The project is listed as one of the top priority projects by the Philippine Mines and Geosciences Bureau and it is a gold-rich porphyry copper deposit spatially related to significant epithermal vein systems that can be potentially exploited by open pit mining methods to produce economic concentrations of gold and copper. King-king’s mineral reserve amounts to 617.9M tonnes at 0.300% total copper and 0.395 g/t gold. |
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