Brisbane, Australia — MININGREVIEW.COM — 21 October 2009 – Australian exploration company Discovery Metals Limited “’ listed on the ASX, AIM and the Botswana Stock Exchange “’ is to seek funding through debt and equity to develop its flagship Boseto copper project in Botswana.
This announcement here follows the company decision last year to delay the project in order to take account of a weaker copper price, a better cost structure and an expected expansion of resources.
Now Discovery has announced that it has advanced with a bankable feasibility study for the project “’ due to be completed at the end of the first quarter in 2010 “’ in terms of which annual production of 25 600 tonnes of copper and 691 000 ounces of silver is set to start in mid-2011.
The company also revealed that it was in discussions with potential off-take partners for the concentrate it will be producing.
“We would expect that many companies would be keen to secure this material as metallurgical work indicates that the mine will produce a clean, low sulphur, high-grade concentrate containing 44% copper,” it said.