Ammended NI 43-101 Technical Report on the Biely ... - EMED Mining

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EMED Mining - Biely VrchNovember 2010Table 17Capital Cost EstimatesFlat Pad (US$ '000) Valley Leach (US$ '000)Year 0 Deferred Total Year 0 Deferred TotalLand Acquisition 2,524 2,524 4,745 4,745Support Infrastructure 8,000 8,000 8,000 8,000Overland Conveyor 3,829 3,829 0leach Pad 12,045 6,862 18,907 31,666 31,666Process Plant 8,864 8,864 7,172 7,172Process Services 4,348 4,348 5,859 5,859Infrastructure and Services 8,231 8,231 6,801 6,801Spares 651 651 7<strong>43</strong> 7<strong>43</strong>EPCM 3,975 1,029 5,004 4,570 4,570Sundry 4,675 4,675 5,205 5,205Contingency @ 20% Direct 6,993 1,184 8,177 10,303 10,303Closure 1,380 1,380 1,380 1,380Rehabilitation 11,476 11,476 11,315 11,315Sustaining 11,032 11,032 24,096 24,096TOTAL 64,134 32,963 97,097 85,064 36,792 121,856The following high level assumptions were used in estimation of the mining costs:Mining contractors will be used for load and haul, and drill and blast activities. A15% margin on operating cost has been incorporated into the cost estimate to reflectthe contractor’s corporate overheads and profitAll mining equipment is assumed to be leased, not purchasedThe mining contractor will supply the mining workshop facilities and associatedcontractor’s officesThe fuel supplier will provide the fuel farm together with relevant safety installationsand earthworksThe magazine will be supplied by the explosives supplier, together with the necessaryearthworksThe mining staff will be accommodated in the general officeAll costs and unit rates are in US dollars. Costs derived in Euros have been convertedto US dollars using an exchange rate of 1:1.4 (Euro:US$)A diesel fuel price of US$0.84 per litre (€0.60/L)Operating assumptions for equipment have been updated according to the most recentinformationVarious costs were derived from first principles, using conceptual pit designs, waste dump designsand associated haul routes, while others were estimated using AMC benchmarking for mineoperations of comparable size, with some being provided by EMED.With approximately 75% of the ore within the base case pit limit being either argillic or oxide, and theremainder comprising transition or primary ore, costs were estimated per ore type.Unit mining costs estimates for each scenario are indicated in Table 18 below.<strong>NI</strong> <strong>43</strong>–<strong>101</strong> <strong>Technical</strong> <strong>Report</strong> 37 BEHRE DOLBEARLegal*5650400.1
EMED Mining - Biely VrchNovember 2010Table 18Unit Mining CostsMining Costs (US$/t)Material Type Flat Pad Valley LeachFresh Ore 3.52 3.58Weathered Ore 3.3 3.33Fresh Waste 3.3 3.29Weathered Waste 3.04 3.02Overall - Primary Mining 3.28 3.3Topsoil Stripping 1.3 1.55Topsoil Rehandle 1.34 1.35ROM Rehandle 0.25 0.25It is noted that the level of accuracy of the projected operating costs is +/- 30%, due to various areasof uncertainty, including:Fragmentation of blasted rock, impacting loading and hauling productivity;Abrasiveness of various materials, effecting GET wear rates and drilling consumablescosts;Actual powder factors required and hence drilling and blasting costs;Drilling penetration rates;Drilling consumables lives;Tyre lives, prices and availability;Haulage travel time variation associated with differing road conditions and interimhaulage profiles;Operator proficiency; andVariation in cost input assumptions from present to commencement of operation.Processing costs were estimated by Kappes Cassidy and Associates Australia (KCAA) for eachscenario, based on results of the metallurgical test work and actual costs from similar heap leachoperations, and are indicated in Table 19 on the next page.Table 19Unit Processing CostsOre Costs (US$/t Ore)Flat PadValley LeachOre Type Process StackingGrade Process /Grade Process /Process StackingControl AdminControl AdminOxide 4.72 0.12 1.05 5.36 1.20 0.12 1.04Argillic 4.72 0.12 1.05 5.36 1.20 0.12 1.04Transition 4.94 0.12 1.05 5.50 1.20 0.12 1.04Primary 4.94 0.12 1.05 5.50 1.20 0.12 1.04<strong>NI</strong> <strong>43</strong>–<strong>101</strong> <strong>Technical</strong> <strong>Report</strong> 38 BEHRE DOLBEARLegal*5650400.1
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