Mineral & Financial Investments Ltd (AIM:MAFL) chief executive Jacques Vaillancourt speaks to Thomas Warner from Proactive about the latest news from the Lagoa Salgada Project in Portugal, the recent investment in Luca Mining as well as the performance of Mineral & Financial overall.
The company announced the results earlier this week of its initial NI 43-101 Feasibility Study for the Lagoa Salgada VMS Project, based upon an updated Mineral Reserves and Resources Estimate. Vaillancourt gives his take on the study, saying that although the study showed slightly lower results than anticipated, the measured reserve component still demonstrated a "robust" NPV of $147 million.
The study also revealed that the all-in sustaining cost for the first five years would be approximately 59c/lb of zinc equivalent, with an annual cash flow of $56 million for the same period. Vaillancourt says that while inflation has affected the upfront capex for the project, he still sees "enormous [exploration] potential around the Project.
Additionally, Vaillancourt discusses an investment in Luca Mining Corp (TSX-V:LUCA, OTCQX:LUCMF) announced in April 2023.