Galena Mining (ASX:G1A) has launched its campaign on the Investing News Network. Galena owns the Abra base metals project located in the Gascoyne region of Western Australia, which is home to one of the largest lead and silver deposits in the world. The company is strengthened by and leveraging partnerships with Japan’s largest zinc and lead smelter, Toho Zinc (TSE:5707), as well as with one of the top base metals trading firms in the world, IXM SA.
The Abra project’s excellent location, infrastructure, and low technical risk saw this mine named as the world’s lowest cost primary lead mine by Wood Mackenzie, a leading mining research and consultancy group.
- Completed a bankable feasibility study (BFS):
- 16 year lifespan producing high-value, high-grade lead-silver concentrate
- Pre-tax NPV of A$553M at spot prices
- C1 direct cash cost to be among the lowest for global primary lead producers at US$0.44/lb
- Estimated pre-production capital expenditure of A$170M
- Higher NPV, longer mine life and lower C1 direct cash cost compared to PFS
- Major partnerships include Toho Zinc, Japan’s largest zinc and lead smelter and IXM SA, one of the top three base metals trading firms in the world.
- The Abra project is located in the Gascoyne Region of Western Australia, home to one of the largest undeveloped lead deposits in the world and the highest-grade lead concentrate available globally.
- The Abra project carries a JORC estimate of 16.7 Mt at 8.5 percent lead and 24 g/t silver in the indicated category and 24.4 Mt at 6.5 percent lead and 14 g/t silver in the inferred category.
- The Abra project has been named the world’s lowest cost primary lead mine by Wood Mackenzie, a leading mining research and consultancy group.
- Initial construction activities have been commenced, with the project being “shovel ready” to commence the plant construction and deployment of the mining contractor.
- US$110 million of project financing debt facilities have been procured from leading mining-specialist lending fund Taurus Funds Management.
- Galena’s management team brings decades of experience in the mining and base metals industry and has a proven track record of success throughout all stages of an exploration, from development to production.