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Canada
Timmins (TTM) Project

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 Location:
11 km S from Timmins, Ontario, Canada

  Project Contacts:
86-14th Street
Rouyn-Noranda
Quebec, Canada
J9X 2J1
Phone  ...  Subscription required
Fax819 797-1470
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Talc
  • Magnesium
Mining Method
  • Truck & Shovel / Loader
Mine Life20 years (as of Jan 1, 2016)
Globex continues to explore various opportunities for the potential products that could be produced and to seek senior level financing opportunities for the project.


Owners

Source: p. 29
CompanyInterestOwnership
Globex Mining Enterprises Inc. 100 % Direct

Contractors

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Deposit Type

  • Hydrothermal
  • Breccia pipe / Stockwork


Summary:

The Timmins Talc-Magnesite deposit is a hydrothermally altered ultramafic rock composed, at its core, largely of talc and magnesite although, at its fringes, the content of calcium in the carbonate increases.

The deposit under consideration has long been viewed as a potential source of magnesite and talc. These minerals are found in a variety of deposit types throughout the world and have a variety of end uses.

The best known of the minerals directly and widely exploited for its magnesia content is magnesite (MgCO3), one of the calcite group of rhombohedral carbonates, which includes calcite (CaCO3), siderite (Fe2CO3) and rhodocrosite (MnCO3), among others.

Although the genesis of natural magnesite deposits can be complex, it is distinguished in nature in two distinct physical forms, namely crystalline, (with a wide range of visible crystal sizes) and cryptocrystalline, sometimes referred to as amorphous, where the crystal size is not detectable to the eye and will range from 1 to 10 micrometers. The two types not only differ in crystal structure but in the sizes of the deposits and modes of formations.

Large-scale talc deposits form when magnesium in magnesium-rich rocks reacts with hydrothermal silica in the final phases of regional or contact metamorphism. Most commonly, talc (Mg3Si4O10(OH2)) or steatite (the massive and fine grained form of talc) replaces serpentine in an ultramafic rock like peridotite, either completely or m ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The proposed mining method for the Timmins Talc-Magnesite project is open pit mining with truck haulage delivering to a process plant located approximately 1.5 km southwest of the deposit. The average life-of-mine waste to plant feed ratio is 1.28:1. Mining will be by drilling and blasting for the bedrock, with the overlying overburden not requiring blasting.

The deployment of a contractor fleet has been assumed to manage pit operations, run-of-mine stockpiling and crushing. The final bench height in the open pit was designed for 20 m, with operational benches advancing in 10-m lifts.

Contractor fleet will be deployed to manage pit operations and crushing. Unit mining rates were provided by a regional contractor reflecting a typical fleet of 5-yd3 excavators and wheel loaders, 50-t trucks, track dozers, water trucks, service trucks and portable crushing and grinding equipment. Drilling and blasting would also be contracted and articulated trucks would likely be rented to address the overburden stripping campaigns.


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Talc t 123,5002,469,603
Magnesia t  ......  Subscription required  ......  Subscription required

* According to 2012 study.

Reserves at August 12, 2016:

CategoryTonnage CommodityGrade
Indicated 12,728,000 t Talc 35.4 %
Indicated 12,728,000 t Magnesite 52.1 %
Inferred 18,778,000 t Talc 31.7 %
Inferred 18,778,000 t Magnesite 53.1 %

Commodity Production Costs:

CommodityUnits
Assumed price Magnesia USD 570 / t *  USD
Assumed price Talc USD 500 / t *  USD
* According to 2012 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t milled) CAD 15.3 *
Processing costs ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2012 study.
Subscription required - Subscription is required.

2012 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 690.2
G&A costs $M CAD 143.4
Total OpEx $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
Operating margin, %  ......  Subscription required
EBITDA (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2020
Corporate Presentation 2016
Preliminary Economic Assessment 2012
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