Monty looking cheaper for partners

TALISMAN Mining is considering the “appropriateness” of hedging and has reported savings of A$8 million being found in the development cost of the high grade Monty copper project in Western Australia.

Monty looking cheaper for partners Monty looking cheaper for partners Monty looking cheaper for partners Monty looking cheaper for partners Monty looking cheaper for partners

Talisman holds 30% of the project that was forecast by a feasiblitiy study to cost A$72.7 million to bring into production.

Instead it is now expected to cost $64.9 million, with over $7 million of savings identified for surface infrastructure.

Specifics weren’t disclosed, with the 70% owner of Monty, Sandfire Resources, doing the development.

Sandfire’s De Grussa operation – the processing destination of ore from Monty – is 10km from the developing mine.

Regarding hedging, Talisman said it was continuing to regularly assess the appropriateness of hedging copper and US dollars – the latter because the financing facility the junior is using is priced in greenbacks.