First Quantum Minerals Files Amended NI 43-101 Technical Report for Its Cobre Panama Project
TORONTO, ONTARIO--(Marketwired - Jul 22, 2015) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) reports that it has today filed on SEDAR an amended National Instrument 43-101 ("NI 43-101") Technical Report for its Cobre Panama project.
The amendments are to correct inconsistencies in the Cobre Panama NI 43-101 Technical Report dated June 30, 2015 filed on SEDAR on July 16, 2015 regarding the capital cost of the project which implied that the pre-acquisition and pre-mining costs of the project were in addition to the total estimated capital cost of $6.4 billion.
Since that is not the case, the following changes were made in the amended Technical Report to remove the inconsistencies:
- Page 21
- 1-11 Capital and operating cost estimates - sentence re-worded to remove inconsistency.
- Table 1- 5 Development capital cost provisions - 3rd column amended to show capital incurred post-acquisition costs to 30/12/2014.
- Page 196
- 21.1.1 Project development capital - clarifying sentence added.
- Table 21-1 Development capital cost provisions - 3rd column amended to show capital incurred post-acquisition costs to 30/12/2014.
- Page 206
- 22.3 - Cashflow model - clarifying sentence added.
- Page 207
- Table 22-1 Mineral Reserves undiscounted cashflow model summary - 3rd and 4th columns for Operating Costs have been amended to remove reference to mining expenditures prior to 2017.
- Page 208
- Table 22-2 Undiscounted cashflow model sensitivity analysis - amended with corrected cash flow.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
12g3-2b-82-4461
Listed in Standard and Poor's
Contact
North American contact:
Sharon Loung
Director, Investor Relations
(647) 346-3934 or Toll Free: 1 (888) 688-6577
(604) 688-3818
sharon.loung@fqml.com
United Kingdom contact:
Clive Newall
President
+44 140 327 3484
+44 140 327 3494
clive.newall@fqml.com