Wednesday, April 10, 2013

Lumina Copper Corp - LCC.v

Lumina Copper Corp - LCC.v is advancing the flagship Taca Taca, a copper/gold/molybdenum project, comprising approximately 2,500 hectares, located in the Puna region of north western Argentina in the Salta Province.

Taca Taca lies 230 km west of the provincial capital of Salta and 90 km east of the world's largest copper mine, Escondida.

On April 9, 2013, the company reported NEWS

"Lumina Copper Corp ("Lumina") is pleased to announce the results of a Preliminary Economic Assessment (the "PEA" or the "Study") on its 100% owned Taca Taca copper/gold/molybdenum project located in the Puna region of Salta Province in northwestern Argentina. The results of the PEA show that a mining and sulfide concentrating operation at Taca Taca (the "Project") has favourable economic potential generating, at an 8% discount rate and $2.75/lb copper price, an estimated after tax net present value ("NPV") of $2.1 billion and an estimated after tax internal rate of return ("IRR") of 17.2%.

The PEA has evaluated the merits of constructing a mine and concentrator at Taca Taca to produce copper (including a gold by-product) and molybdenum concentrates. The Study was based upon a mine operating over a 28 year mine life delivering 120,000 tonnes per day of throughput (for an initial period of seven years) to an industry standard designed mill and concentration plant comprising two mill and flotation lines. An expansion of the concentrator, by way of a third line, to accommodate a total throughput of 180,000 tonnes per day from year eight onwards has been included in the evaluation.