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

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Vendor and Consultant Assistance An allowance is included in the Indirect costs for vendor and consultant assistance. OWNER’ S COSTS An allowance based on a percentage is included for owners costs. CONTINGENCY AND RISK A contingency of 25% was applied to the direct and indirect capital costs for the PEA to meet anticipated but defined costs. ASSUMPTIONS AND E XCLUSIONS Assumptions The initial capital costs estimate includes the following assumptions: • Labour productivities have been adjusted for remote northern locations. Bulk materials such as cement, rebar, structural steel and plate, cable, cable tray, and piping will be available when they are required. • Capital equipment will be available when it is required. Exclusions This initial capital cost estimate excludes consideration for: • capital cost during the exploration phase • salvage value • cost escalation during construction • scope changes • taxes and duties • cost outside battery limits. Prophecy Platinum Corp. 21-10 1193460500-REP-R0001-02 Wellgreen Project Preliminary Economic Assessment, Yukon, Canada
21.3 O PERATING C OSTS 21.3.1 GENERAL 21.3.2 MINING Mine operating costs were developed by Tetra Tech on a first principle basis using Tetra Tech’s in-house cost database, CostMine 2010 Mine Cost Guide and InfoMine 2009 Mine Salaries. Operating costs, where required, were escalated to reflect Q1 2012 dollars. The Project LOM mine operating costs have been categorized and summarized in Table 21.9. The costs are expressed in total US dollars, unit per tonne mined and unit per tonne milled. Table 21.9 LOM Operating Cost Summary (US$ million) Cost (US$) Cost (%) Unit Cost US$/t mined Unit Cost US$/t milled Open Pit Mining 3,656.5 30 2.52 9.02 Site Services 436.9 4 0.30 1.08 G&A 931.6 8 0.65 2.29 Processing 7,030.8 58 4.85 17.35 Total 12,055.8 100 8.32 29.74 The mining operating cost is estimated at US$3.66 billion which equates to US$2.52/t of material mined or US$9.02/t of material milled. Manpower salaries, diesel price, and explosive price were obtained from Tetra Tech’s internal cost database. Table 21.10 and Table 21.11 present a summary of the mining operating costs, grouped by waste mining costs and material mining costs, for a nominal mill throughput 32,000 t/d, with an average strip ratio of 2.57:1 (tonnes waste/tonnes mineralized material) during the 37-year LOM. Prophecy Platinum Corp. 21-11 1193460500-REP-R0001-02 Wellgreen Project Preliminary Economic Assessment, Yukon, Canada
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Report to: Wellgreen Project Prelim
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TABLE OF CONTENTS 1.0 SUMMARY .....
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14.1.8 MINERAL RESOURCE TABULATION
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26.1.2 PHASE 2 - QUILL CREEK ULTRAM
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Table 19.2 Palladium Demand and Sup
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Figure 19.3 London Metals Exchange
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litres per minute .................
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International All-North Resources L
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1.0 S UMMARY 1.1 I NTRODUCTION Tetr
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This PEA has been prepared by Tetra
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Numerous operators have worked on t
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1.6 M INING M ETHODS The Project is
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Figure 1.2 Wellgreen Project Overal
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Table 1.6 Capital Cost Summary (US$
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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
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Figure 14.4 Wellgreen Platinum, Pal
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Figure 14.6 Wellgreen Pit Resource
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14.1.9 VALIDATION The Wellgreen mod
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Figure 14.9 East Zone Cross Section
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Figure 14.10 Wellgreen Nickel Secti
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Figure 14.14 Wellgreen Platinum Sec
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Figure 14.18 Wellgreen Cobalt Eleva
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14.2 P REVIOUS E STIMATES Table 14.
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15.0 MINERAL RESERVE ESTIMATES A mi
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The selected base case pit contains
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OVERALL O PEN P IT SLOPE ANGLE Tetr
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Table 16.4 Pit Optimization Results
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The pit optimization process includ
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16.4 P RODUCTION S CHDULE Using Pit
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Year Waste (t) Total (t) Strip Rati
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Figure 16.5 Sequence of Development
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PHASE III During Phase III, the pit
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16.5.4 EXPLOSIVES A contractor will
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Table 16.9 Pit Design Criteria Item
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Equipment Fleet Size Units Crew Bus
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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 and 162: Table 19.2 Palladium Demand and Sup
Page 163 and 164: Figure 19.3 London Metals Exchange
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
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Page 175 and 176: Figure 20.4 Wildlife Ranges-Mountai
Page 177 and 178: Figure 20.6 Wildlife Ranges-Grizzly
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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: Spares • safety including safety
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
Page 213 and 214: Table 22.4 Summary of Pre-tax Finan
Page 215 and 216: 22.4 M ETAL P RICE S CENARIOS The L
Page 217 and 218: Figure 22.3 IRR Sensitivity Analysi
Page 219 and 220: Figure 23.1 Adjacent Properties Pro
Page 221 and 222: Figure 24.1 Wellgreen Project Execu
Page 223 and 224: 25.2 M INING Table 25.1 Wellgreen R
Page 225 and 226: Table 25.4 Process Capital Cost Sum
Page 227 and 228: Table 26.1 Wellgreen Expansion Budg
Page 229 and 230: 26.2 M INING sample selection shoul
Page 231 and 232: Trade-off studies should be complet
Page 233 and 234: • develop a negotiation strategy
Page 235 and 236: METALLURGY Davis, David and Bruwer,
Page 237 and 238: Yukon Environmental and Socio-econo
Page 239 and 240: TODD MCCRACKEN, P.GEO. I, Todd McCr
Page 241 and 242: PHILIP BRIDSON, P.ENG. I, Philip Br
Page 243 and 244: APPENDIX A L IST OF C LAIMS
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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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