Company
CVE:LA
Los Andes Copper Ltd is a Canadian company focused on developing the Vizcachitas copper-molybdenum porphyry project in Chile. The company owns 100% of the Vizcachitas project, one of the largest advanced copper deposits in the Americas, which will become Chile’s next major copper mine. The April 2023 PFS was designed with the goal of achieving an environmental-friendly operation that will position the project on the forefront of global environmental trends for mining. It demonstrated a technically and economically robust project with an IRR of 24%% at US$3.68/lb and an After-Tax NPV @8% of US$2.88 billion. The project has an initial 26 year mine life and the deposit remains open at depth and to the east and west providing the potential for a significant expansion of mine life.
52 stories · page 3 of 3
The company said the current drill program's objectives include exploring the deeper parts of the classic porphyry copper deposit at Vizcachitas, where earlier drilling demonstrated higher copper grades at depth
The deposit sits in a huge land package, spanning 308 square kilometres, of which only a small portion has so far been explored
The company noted that Jones has taken multiple large mines, with values of up to $1 billion, from discovery through to feasibility, and to construction decisions
The company noted that Gilman has over 30 years of experience as a deal maker and investor in the metals and mining sector and was a founder of the Canadian Imperial Bank of Commerce (CIBC) Global Mining Team in Toronto in 1988
The work showed that the asset will produce clean concentrates and that overall recovery of molybdenum over the first 12 years of the mine will be 76%, up from an assumption of 75% in the PEA
The proceeds will go towards completing the pre-feasibility study for its Vizcachitas copper project in Chile
Corinne Boone, who has over 25 years' experience focused on sustainable business, climate risk and carbon markets, will join as an independent non-executive director
Investments and investor services
The proceeds will be allocated towards the completion of the Vizcachitas project’s pre-feasibility study
The company said it had received unanimous approval from the Regional Environmental Committee for the work
The work was part of the ongoing pre-feasibility study for the asset, which is set to become the South American country's next copper mine
The project already hosts a measured and indicated resource of 11.2 billion pounds of copper and there is significant potential to expand this
Further metallurgical work on the ore from the project has shown that altering the flotation, could improve recovery of both metals
