Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Tartisan Nickel (CSE: TN) has completed the initial environmental baseline studies at its Kenbridge nickel project located in the Kenora mining district of northwestern Ontario. The second phase has now begun, consisting of bathymetry for receiving waterbodies and lakes surrounding the project, fishery studies, water quality sampling, among many other items.
Tartisan had previously announced that Knight Piesold Consulting and Blue Heron Environmental have been retained to carry out these studies. Environmental baseline studies are critical in the permitting and approvals process and overall advancement of the Kenbridge project.
“Baseline studies continue at the Kenbridge nickel project and signify the company’s commitment to an approximate three years to production timeline. The company is continuing to review and implement all necessary steps in the permitting and mining approval process,” Tartisan’s CEO Mark Appleby said in a press release.
In July, the company released a positive preliminary economic assessment for the Kenbridge project, showing an after-tax net present value (at a 5% discount rate) of C$109 million with an internal rate of return of 20%.
The PEA indicated a nine-year mine plan based on a 1,500 t/d mining and processing operation, producing a total of 200,900 tonnes of nickel concentrate at 15% nickel and 66,900 tonnes of copper concentrate at 24% copper over the life of mine.
