Montepuez ruby mine code#

' As the first recorded Mineral Resource and Ore Reserve Statement for Montepuez, the significance of this report is not only a milestone event that bares testament to the quality of work carried out by SRK and the expertise from within the Gemfields team, but provides further evidence to the continued growth, positive momentum and opportunity inherent within the coloured gemstone sector. Ian Harebottle, CEO of Gemfields, commented:

Substantial exploration programme using proven techniques is planned for the next few years at п‚· Exploration programme to date has covered around 36 sq. п‚· Capital expenditure of USD 64 million over the first 2 years and a total of USD 305 million over п‚· Robust economics shows a post-tax NPV of USD 996 million (based on 10% base case discount rate) and an IRR of 311.7% and п‚· Projected real cash flow (no discount rate applied) over the LoM of approximately USD 2.76 billion п‚· Projected to increase processing capacity from 0.4 million tonnes per annum to 1.3 million tonnes per annum by July 2016 п‚· Projected to increase mining capacity from 3.3 million tonnes per annum to 5.6 million tonnes by п‚· Projected 21 year life of mine ('LoM') producing a total of 432 million carats over the LoM

Montepuez ruby mine code#

п‚· JORC code compliant Probable Secondary Ore Reserve of 25.3 million tonnes or 179 million carats at a grade of 7.07 carats/tonne.

п‚· JORC code compliant Probable Primary Ore Reserve of primary ore of 2.2 million tonnes or 253 million carats at a grade of 114.9 carats/tonne and Probable Ore Reserves of 432 million carats of ruby and corundum at diluted ore grade of 15.7 carats per tonne п‚· JORC code compliant Indicated Mineral Resource of secondary mineralisation of 5.0 million tonnes or 178 million carats at a grade of 35.7 carats/tonne. п‚· JORC code compliant Inferred Mineral Resource of primary mineralisation of 0.4 million tonnes or 44 million carats at a grade of 115.4 carats/tonne and п‚· JORC code compliant Indicated Mineral Resource of primary mineralisation of 2.1 million tonnes or 245 million carats at a grade of 115.4 carats/tonne Indicated and Inferred Mineral Resource of 467 million carats of ruby and corundum at an in- situ grade of 62.3 carats per tonne The CPR includes MRM's maiden Mineral Resource and Ore Reserve estimates and accompanying Statements prepared in accordance with JORC Code (2012). Gemfields plc (AIM: GEM) is pleased to announce the publication of a Competent Persons Report ('CPR') produced by SRK Consulting (UK) Limited ('SRK') on the Montepuez Ruby Mine ('MRM' or 'Montepuez'), which is 75% owned by Gemfields and 25% by local partners, Mwiriti Limitada. Montepuez Ruby Mine Maiden JORC Resource & Reserves