Wellgreen Project Preliminary Economic Assessment ... - OTCIQ.com

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Figure 19.2 Palladium Price Note: Magilligan – Platinum Market Review – January 2012 19.2 C OPPER AND N ICKEL Copper and nickel demand is expected to grow but at slower rates than previously seen due to the economic uncertainty in the current marketplace. Copper supply is forecasted to exceed demand as presented in Table 19.3. The data in the table was sourced from a presentation by Société Générale from September 2011, on their outlook for copper. Table 19.3 Copper Supply and Demand 2010 (Mt) 2011 (Mt) 2012 Forecast (Mt) World Refined Production 18.70 19.27 20.14 World Refined Production 18.78 19.40 19.96 Balance -0.08 -0.16 0.18 As illustrated in Figure 19.3 the copper price has been trending upwards for the past three years and has achieved prices higher than pre-recession prices. Prophecy Platinum Corp. 19-3 1193460500-REP-R0001-02 Wellgreen Project Preliminary Economic Assessment, Yukon, Canada
Figure 19.3 London Metals Exchange Copper Price and US Dollar Exchange Rate by Year Note: Société Générale – September 2011 The concern for nickel, aside from the European defaults, is the lower cost in the production of nickel pig iron for the creation of stainless steel. The nickel pig iron is believed to be a key factor in regulating the demand and supply of nickel in the future. The forecast however, is that there will be surpluses of nickel in the next two years. It is also believed that the growing demand in the Brazil, Russia, India and China (BRIC) nations will create a deficit in the nickel production required to meet the demand in the years 2015 and 2016. Figure 19.4 and Figure 19.5 illustrate the global supply and demand for nickel (right hand chart axis) as well as supply and demand in selected nations (left hand chart axis). Prophecy Platinum Corp. 19-4 1193460500-REP-R0001-02 Wellgreen Project Preliminary Economic Assessment, Yukon, Canada
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Report to: Wellgreen Project Prelim
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TABLE OF CONTENTS 1.0 SUMMARY .....
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14.1.8 MINERAL RESOURCE TABULATION
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26.1.2 PHASE 2 - QUILL CREEK ULTRAM
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Table 19.2 Palladium Demand and Sup
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Figure 19.3 London Metals Exchange
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litres per minute .................
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International All-North Resources L
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1.0 S UMMARY 1.1 I NTRODUCTION Tetr
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This PEA has been prepared by Tetra
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Numerous operators have worked on t
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1.6 M INING M ETHODS The Project is
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Figure 1.2 Wellgreen Project Overal
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Table 1.6 Capital Cost Summary (US$
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The following financial results wer
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Figure 1.3 illustrates that the Pro
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Figure 1.5 Project Execution Plan P
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2.0 INTRODUCTION Tetra Tech was com
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3.0 RELIANCE ON OTHER EXPERTS Tetra
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Figure 4.1 Location Map Prophecy Pl
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All work undertaken on the surface
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Figure 4.3 Wellgreen Surface Lease
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Other than those liabilities set fo
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5.3 C LIMATE The climate is alpine,
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Year Company Activities 1970 Hudson
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Year Company Activities 2008 Corona
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6.2.3 NORTHERN P LATINUM 2009 PROGR
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Figure 7.1 Regional Geology Map Pro
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Figure 7.3 Property Geology Prophec
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Longitudinal faults and/or shears a
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Figure 7.4 Wellgreen Plan View Prop
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7.2.3 NORTH ZONE The North Zone is
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Table 7.3 PGE-Bearing Minerals in t
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Gabbroid-associated Nickel, Copper,
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10.0 DRILLING 10.1 H ISTORICAL D RI
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Figure 10.1 Prophecy Platinum Drill
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Table 10.4 Prophecy Platinum 2011 D
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• The course rejects returned fro
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Figure 10.4 Core Storage Facility P
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11.0 SAMPLE PREPARATION, ANALYSES,
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12.0 DATA VERIFICATION Tetra Tech
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Table 12.2 Check Assays Prophecy Pl
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13.0 MINERAL PROCESSING AND METALLU
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An elemental analysis of typical co
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Minerals Peridotite Composite 1 Min
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Ni Deposits” shows that the grade
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13.3 SGS V ANCOUVER - J UNE 2012 A
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14.0 MINERAL RESOURCE ESTIMATES 14.
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Table 14.3 summarizes the grade cap
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The NiEq value was assigned to all
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Table 14.7 Wellgreen Variogram Summ
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Table 14.9 Estimation Criteria Zone
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Table 14.10 Search Parameters Zone
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NiEq Cut-off Tonnes NiEq (%) Ni (%)
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Figure 14.2 Wellgreen Platinum, Pal
Page 111 and 112: Figure 14.4 Wellgreen Platinum, Pal
Page 113 and 114: Figure 14.6 Wellgreen Pit Resource
Page 115 and 116: 14.1.9 VALIDATION The Wellgreen mod
Page 117 and 118: Figure 14.9 East Zone Cross Section
Page 119 and 120: Figure 14.10 Wellgreen Nickel Secti
Page 121 and 122: Figure 14.14 Wellgreen Platinum Sec
Page 123 and 124: Figure 14.18 Wellgreen Cobalt Eleva
Page 125 and 126: 14.2 P REVIOUS E STIMATES Table 14.
Page 127 and 128: 15.0 MINERAL RESERVE ESTIMATES A mi
Page 129 and 130: The selected base case pit contains
Page 131 and 132: OVERALL O PEN P IT SLOPE ANGLE Tetr
Page 133 and 134: Table 16.4 Pit Optimization Results
Page 135 and 136: The pit optimization process includ
Page 137 and 138: 16.4 P RODUCTION S CHDULE Using Pit
Page 139 and 140: Year Waste (t) Total (t) Strip Rati
Page 141 and 142: Figure 16.5 Sequence of Development
Page 143 and 144: PHASE III During Phase III, the pit
Page 145 and 146: 16.5.4 EXPLOSIVES A contractor will
Page 147 and 148: Table 16.9 Pit Design Criteria Item
Page 149 and 150: Equipment Fleet Size Units Crew Bus
Page 151 and 152: Figure 17.1 Overall Wellgreen Proce
Page 153 and 154: 17.2 P ROCESS D ESIGN C RITERIA The
Page 155 and 156: 17.5 P ROCESS P LANT The process pl
Page 157 and 158: Figure 18.1 Wellgreen Project Overa
Page 159 and 160: ultimate impoundment surface area o
Page 161: Table 19.2 Palladium Demand and Sup
Page 165 and 166: Figure 19.5 Nickel Demand (2009 to
Page 167 and 168: 20.0 ENVIRONMENTAL STUDIES, PERMITT
Page 169 and 170: Tailings and mill concentrate sampl
Page 171 and 172: 20.2.4 AQUATIC RESOURCES The Proper
Page 173 and 174: Figure 20.2 Wildlife Ranges-Woodlan
Page 175 and 176: Figure 20.4 Wildlife Ranges-Mountai
Page 177 and 178: Figure 20.6 Wildlife Ranges-Grizzly
Page 179 and 180: Figure 20.8 Aquatic Resources Proph
Page 181 and 182: 20.3.2 LICENSING The Project will b
Page 183 and 184: (Transport Canada 2010). New constr
Page 185 and 186: Table 20.1 Applicable Legislation,
Page 187 and 188: 20.4 M I NE C LOSURE AND R ECLAMATI
Page 189 and 190: Umbrella Final Agreement, the White
Page 191 and 192: 20.5.2 NON-ABORIGINAL COMMUNITIES T
Page 193 and 194: 21.0 C APITAL AND O PERATING C OSTS
Page 195 and 196: Mine Equipment 21.2.2 SUSTAINING 20
Page 197 and 198: Table 21.7 Contingency (US$ million
Page 199 and 200: • mobilization and demobilization
Page 201 and 202: Spares • safety including safety
Page 203 and 204: 21.3 O PERATING C OSTS 21.3.1 GENER
Page 205 and 206: Table 21.11 Summary of Mining Opera
Page 207 and 208: Mine Operations Position No. Annual
Page 209 and 210: 22.0 ECONOMIC A NALYSIS 22.1 I NTRO
Page 211 and 212: Table 22.3 Metal Production from th
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Table 22.4 Summary of Pre-tax Finan
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22.4 M ETAL P RICE S CENARIOS The L
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Figure 22.3 IRR Sensitivity Analysi
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Figure 23.1 Adjacent Properties Pro
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Figure 24.1 Wellgreen Project Execu
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25.2 M INING Table 25.1 Wellgreen R
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Table 25.4 Process Capital Cost Sum
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Table 26.1 Wellgreen Expansion Budg
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26.2 M INING sample selection shoul
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Trade-off studies should be complet
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• develop a negotiation strategy
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METALLURGY Davis, David and Bruwer,
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Yukon Environmental and Socio-econo
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TODD MCCRACKEN, P.GEO. I, Todd McCr
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PHILIP BRIDSON, P.ENG. I, Philip Br
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APPENDIX A L IST OF C LAIMS
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District GrantNumber RegType ClaimN
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Certificate of Analysis First issue
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Hf µg/g 0.5 4 / 20 Ho µg/g 0.2 3
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assess laboratory results, users ar
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Constituent Unit Mean Table 2 - Pro
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Table 3 - Informational Values Cons
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CERTIFYING OFFICER ________________
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An Investigation into METALLURGICAL
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Prophecy Platinum Corporation - Wel
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Sample Fraction Mass Size Distribut
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Mass (% Chalcopyrite) Prophecy Plat
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Mass (% Pentlandite) Prophecy Plati
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Mass (% Pyrrhotite) Prophecy Platin
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Pyrrhotite Recovery % Prophecy Plat
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Cu Rec, % Ni Rec, % Gng Rec, % 100
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Grade (%) Cu + Ni Grade (g/t) PGE G
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Prophecy, Wellgreen samples 50149-0
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OnLine LIMS SGS Lakefield Research
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Certificate of Analysis Work Order:
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Final : VC120756 Revision REVISED O
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Final : VC120590A Revision REVISED
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SGS Minerals Services Standard Bond
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Project No.: 50149-001 Test No.: MC
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SGS Minerals Services STANDARD BOND
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SGS Minerals Services Project No. D
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Test No.: F1 Project No.: 50149-001
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Test No.: Sep-F1 Project No.: 50149
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Test: F30 Project: 11603-005 50149-
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Test: F32 Project: 11603-005 50149-
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Test: F34 Project: 11603-005 50149-
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Test: F36 Project: 11603-005 50149-
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Test: F38 Project: 11603-005 50149-
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Test No.: HNI-F1 Project No.: 50149
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Test: HNI-F3 Project: 11603-005 501
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Test: HNI-F5 Project: 11603-005 501
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Test: LCT-1 Project: 50149-001 Date
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Test: LCT-1 Overall Stability Total
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Test: LCT-2 Metallurgical Predictio
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Test: LCT-4 Project: 50149-001 Date
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Test: LCT-4 Overall Stability Total
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Prophecy Platinum Corp 50149-101 MI
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Mineral Abundance (wt.%) 100 90 80
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CAVM-50149-101 MI7018-MAR12 Sample
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CAVM-50149-101 MI7018-MAR12 Sample
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erra Mineralogical Services Inc. Mi
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TerraMS-12JUL-001 Wellgreen - Pt-Pd
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APPENDIX D M INING
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LG Phase Revenue Factor (%) Mineral
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Figure 3 Overall Ultimate Pit Produ
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Table 3 Penetration and Drilling Ra
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HAULAGE General Hauling Conditions
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Year Mechanical Availability (%) Us
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