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.