Azure reveals nice numbers for Oposura

MEXICO-focused Azure Minerals believes it could build a zinc-lead-silver operation at Oposura for A$70 million that would generate annual earnings of $40-50 million per annum and an internal rate of return of 76%.
Azure reveals nice numbers for Oposura Azure reveals nice numbers for Oposura Azure reveals nice numbers for Oposura Azure reveals nice numbers for Oposura Azure reveals nice numbers for Oposura

Azure has long been keen on Mexico

According to scoping work the operation would annually produce an average of 19,000t of zinc, 10,000t of lead and 145,000 ounces of silver,

Open cut and underground mining is envisaged for an initial 5.3 years at an average rate of 500,000tpa and average grades of 4.6% zinc, 2.6% lead and 15.9 gram per tonne silver.

Oposura has current resources of 2.9 million tonnes at 5% zinc, 2.8% lead and 17gpt silver.

Azure has calculated its Oposura project would have a net present value of $112 million. 

A prefeasibility and definitive feasibility studies are targeted to be completed in 2019, with first production in late 2020 or early the following year.

Azure had cash at the end of July of $6.1 million.

Shares in Azure were up 5% to 20.5c, capitalising the ASX-company at $23 million.

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