Tiger Resources Update of Kipoi Testwork and SXEW DFS; Fell 12% Wednesday

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Tiger Resources Limited (TGS.TO), which fell 12% Wednesday, provided an update on the positive results from recent metallurgical testwork and cost optimisation studies in support of the Definitive Feasibility Study being conducted for the development of 50,000 tpa copper cathode producing Stage 2 SXEW (solvent-extraction and electro-winning) facility at the Kipoi Copper Project (Tiger 60%), in the Katanga province of the Democratic Republic of Congo ( DRC ).

Highlights:

- Total copper recovery increased from 82.5% to 88%

- Life-of-Mine (LOM) acid consumption of 12.9kg/t, versus scoping study estimate of 12.5kg/t

- SXEW Phase 1 capital expenditure is $154 million, for 25ktpa Cu HL (heap leach)

- LOM capital expenditure of $383 million, versus scoping study estimate of $422 million

- Operating costs confirmed below $1.00/lb for LOM, (below $0.70/lb for the first 3 years of operation)



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This article appears in: Investing , Commodities

Referenced Stocks: DRC

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