Mineral & Financial Investments still sees "enormous potential" at Lagoa Salgada
August 01, 2023 at 03:40 am EDT
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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 59 cents per pound 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 announced in April 2023.
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Proactive UK Ltd
+44 20 7989 0813
uk@proactiveinvestors.com
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Mineral & Financial Investments Limited is an investment company. The Company is engaged in investing, financing, and advising resource companies with a particular emphasis on mining companies. The Company runs two portfolios, the Tactical Portfolio for more liquid investments in which short and medium term value can be achieved and the Strategic Portfolio for long term investments. The Tactical Portfolio is its treasury. It is through the Tactical Portfolio that it ensures that it has capital at its disposal to invest when others cannot, or will not, invest in the metals and mining sector. The Strategic portfolio is to generate capital returns by providing financial capital to metal mining companies that it believes can go into production. It provides advisory services to its investee companies, which cover strategy, financings, acquisitions, dispositions, mergers, geological services, investor relations, and public relations.