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Romania
Rovina Valley Project

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 Location:
10 km E from Brad, Romania

  Project Contacts:
Calea Zarandului nr. 146
Criscior
Portugal
337200
Phone  ...  Subscription required
Fax+40-254-616-135
EmailEmail
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life17.2 years (as of Jan 1, 2022)
The Rovina Valley Project, is one of the largest undeveloped copper-gold assets in the world, with 10.1 Moz of gold equivalent (7 million ounces of gold and 233 thousand tonnes of copper).


Owners

Source: p. 38
CompanyInterestOwnership
Euro Sun Mining Inc. 100 % Indirect
SAMAX Romania SRL. (operator) 100 % Direct
The Rovina property consists of one Exploitation (Mining) Licence (the Rovina Exploitation Licence, Number 18174/2015 for Cu-Au), covering an area of approximately 2,768 ha. ESM, through intermediary subsidiaries, owns 100 % of SAMAX, which in turn owns 100 % of the Rovina Exploitation Licence.

Contractors

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Deposit Type

  • Porphyry
  • Vein / narrow vein


Summary:

The Rovina, Colnic, and Ciresata porphyry deposits are the principal targets for exploration and mining within the Rovina Valley Project (RVP), with their locations defining a north-northeast trend. The Rovina porphyry is the northern-most deposit, with the Colnic porphyry lying approximately 2.5 km south of the Rovina porphyry, and the Ciresata porphyry approximately 4.5 km south of the Colnic porphyry.

Geometry of the mineralisation and host porphyries is different for each of the deposits. At Rovina, the host porphyries are generally cylindrical and vertical. At Colnic, the porphyries are lobate, with mineralisation decreasing with depth and a phyllic-altered cap locally preserved. Both Rovina and Colnic porphyries intrude extensive igneous-magmatic breccia carapaces, whereas Ciresata mineralisation is centred on a relatively narrow subvolcanic “neck” with a significant amount of mineralisation hosted in adjacent hornfelsed sediments.

Rovina Mineralisation Descriptions
Gold-copper mineralisation is associated with pyrite-chalcopyrite-magnetite occurring in veinlet stockworks and as finely disseminated grains. Oxidation is restricted to the uppermost few metres, except for a small area in Baroc Valley at the Rovina porphyry where weathering oxidation is 15 m to 25 m deep within the copper-gold mineralisation. In this area, secondary copper minerals malachite and chrysocolla are observed in the weathering zone, and minor occurrences of supergene c ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

All deposits will be mined utilising conventional truck and shovel methods to supply ore to the ROM tip and waste to the respective pit’s waste crushing and conveying station, which will transport the waste to the Colnic stockpile area and backfill the Colnic pit.

A LOM schedule has been developed to supply one processing plant for the full LOM. The processing plant has a planned throughput of 7.2 Mt/a (Colnic pit and then Rovina pit) and a LOM of 16 years, excluding the Colnic low-grade stockpile. The LOM schedule considers the in-pit and stockpile blending requirements during the life of each pit, as well as the changeover from Colnic to Rovina ore supply to the processing plant.

The Owner’s mining fleet will be responsible for all mining-related earthmoving activities.

Most of the ore and waste materials will be drilled and blasted as there is a nominal amount of free dig/oxidised materials.

Free-dig and blasted waste will be loaded with 200 t class hydraulic backhoe excavators, hauled with 90 t haul trucks, and stockpiled at designated waste stockpile locations, which will be systematically dozed and levelled to allow the stockpiles to be raised in accordance with the design parameters.

Free-dig and blasted ore will be loaded with 200 t class hydraulic backhoe excavators and hauled with 90 t haul trucks to the plant feed ROM pad. There the ore will either be direct tipped into the crushing facility or placed on the RO ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Metal in copper conc. oz 82,0001,471,746
Copper Concentrate kt  ......  Subscription required
Copper Metal in concentrate M lbs  ......  Subscription required  ......  Subscription required
Gold Equivalent Metal in concentrate koz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Annual mining capacity  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Plant annual capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

Reserves at March 21, 2022:
The Colnic and Rovina deposits are amenable to open-pit mining and Mineral Resources are pit constrained and tabulated at a base case cut-off grade of 0.35 g/t AuEq for Colnic and 0.25 % CuEq for Rovina. The Ciresata deposit is amenable to bulk underground mining and resources are tabulated at a base case 0.65 g/t AuEq. The Au and Cu equivalents were determined by using a long-term gold price of US$1,700/oz and a copper price of US$3.50/lb with metallurgical recoveries not taken into account.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven In-Situ (OP) 48.18 Mt Gold 0.5 g/t 778 koz
Proven In-Situ (OP) 48.18 Mt Copper 0.2 % 94,165 t
Probable In-Situ (OP) 75.12 Mt Gold 0.44 g/t 1,060 koz
Probable In-Situ (OP) 75.12 Mt Copper 0.14 % 103,357 t
Proven & Probable In-Situ (OP) 123.3 Mt Gold 0.47 g/t 1,839 koz
Proven & Probable In-Situ (OP) 123.3 Mt Copper 0.16 % 197,522 t
Measured In-Situ (OP) 62.4 Mt Gold 0.49 g/t 0.99 M oz
Measured In-Situ (UG) 28.5 Mt Gold 0.88 g/t 0.81 M oz
Measured In-Situ (OP) 62.4 Mt Copper 0.21 % 288 M lbs
Measured In-Situ (UG) 28.5 Mt Copper 0.16 % 102 M lbs
Measured In-Situ (OP) 62.4 Mt Gold Equivalent 0.79 g/t 1.58 M oz
Measured In-Situ (UG) 28.5 Mt Gold Equivalent 1.13 g/t 1.03 M oz
Indicated In-Situ (OP) 182.7 Mt Gold 0.39 g/t 2.28 M oz
Indicated In-Situ (UG) 125.9 Mt Gold 0.74 g/t 3.01 M oz
Indicated In-Situ (OP) 182.7 Mt Copper 0.15 % 607 M lbs
Indicated In-Situ (UG) 125.9 Mt Copper 0.15 % 413 M lbs
Indicated In-Situ (OP) 182.7 Mt Gold Equivalent 0.6 g/t 3.53 M oz
Indicated In-Situ (UG) 125.9 Mt Gold Equivalent 0.97 g/t 3.92 M oz
Measured & Indicated In-Situ (OP) 245.1 Mt Gold 0.42 g/t 3.27 M oz
Measured & Indicated In-Situ (UG) 154.4 Mt Gold 0.77 g/t 3.82 M oz
Measured & Indicated In-Situ (OP) 245.1 Mt Copper 0.17 % 895 M lbs
Measured & Indicated In-Situ (UG) 154.4 Mt Copper 0.15 % 515 M lbs
Measured & Indicated In-Situ (OP) 245.1 Mt Gold Equivalent 0.65 g/t 5.11 M oz
Measured & Indicated In-Situ (UG) 154.4 Mt Gold Equivalent 1 g/t 4.95 M oz
Inferred In-Situ (OP) 20.1 Mt Gold 0.22 g/t 0.14 M oz
Inferred In-Situ (UG) 8.6 Mt Gold 0.7 g/t 0.19 M oz
Inferred In-Situ (OP) 20.1 Mt Copper 0.17 % 75 M lbs
Inferred In-Situ (UG) 8.6 Mt Copper 0.14 % 26 M lbs
Inferred In-Situ (OP) 20.1 Mt Gold Equivalent 0.46 g/t 0.29 M oz
Inferred In-Situ (UG) 8.6 Mt Gold Equivalent 0.94 g/t 0.25 M oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Copper Equivalent USD  ......  Subscription required&nbs
Cash costs Gold Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold Equivalent USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2022
OP mining costs ($/t mined) USD 1.75 *
OP mining costs ($/t milled) USD  ......  Subscription required
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 1,086
Refining costs $M USD  ......  Subscription required
Transportation (haulage) costs $M USD 50
G&A costs $M USD 36.1
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Pipelines
TypeMaterialDiameterLengthDescription


Proposed Heavy Mobile Equipment as of March 21, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
Compactor 15 t ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jun 29, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 29, 2022
....................... Subscription required ....................... Subscription required Subscription required Mar 21, 2022
....................... Subscription required ....................... Subscription required Subscription required Mar 21, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 29, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 29, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Feasibility Study Report 2022
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2019
................................... Subscription required 2019
Technical Report 2012
Preliminary Economic Assessment 2010
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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