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Adriatic Metals' says 'Vares silver project delivery and execution risks substantially reduced'

Published: 08:55 19 Aug 2021 BST

Adriatic Metals PLC (LSE:ADT1, ASX:ADT, FRA:3FNA, OTCQX:ADMLF) (LSE:ADT1)’s Paul Cronin joins Proactive London to discuss their Vares silver project in Bosnia and Herzegovina (BiH) which has been valued at US$1.06bn in a final definitive feasibility study.

Compiled by a number of international consultants overseen by Ausenco, the DFS value compares to US$1.04bn in the initial feasibility study in 2020, but cuts the payback period on the capital cost to just under nine months from 14.

Construction costs also come down to US$168mln from US$173mln, but the big gain is in the sustaining costs, which fall to US$7.3 per silver ounce equivalent from US$9.7/oz.

Adriatic Metals says 2024 will be a solid year as it provides guidance for...

  Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF) chief executive Paul Cronin joined Proactive's Stephen Gunnion with details of the first production guidance published for the Vares silver project in Bosnia and Herzegovina. Cronin said the company expects to produce between 240,000...

on 24/1/24