Pacifico Minerals (ASX:PMY)

Simon Noon
CEO/MD
Market Cap (AUD): 66.91M
Sector: Materials
Last Trade (AUD): 0.018 +-0 (+-5.26%)
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1. About

Pacifico (ASX:PMY) intends to develop Sorby Hills, a large, near-surface, flat-lying, lead-silver-zinc deposit located 50 km northeast of Kununurra in Western Australia.

After completing the acquisition of a 75% interest in the Sorby Hills Project in late 2018, Pacifico carried out a drill program that significantly increased the size and confidence of the global MRE (29.97 Mt of 4.8% Pb equivalent (3.7% Pb, 43 g/t Ag) and 0.6% Zn) and underpinned an updated PFS.

The PFS estimated a CAPEX of A$95.4M to develop the mine, with a 16-month payback and a pre-tax NPV8 of A$243M. Importantly, the PFS only considered resources in the Indicated category (10.85 Mt with a grade of 5.1% Pb equivalent (3.9% Pb, 46 g/t Ag) and 0.4% Zn). 

An updated MRE was completed in October 2019, the Global Resource now includes 36Mt of 4.7% Pb equivalent (3.7% Pb, 39 g/t Ag) and 0.5% Zn with 16.6Mt of Indicated Resources at 4.8% Pb equivalent (3.8% Pb, 39 g/t Ag) and 0.4% Zn. These results will underpin the Optimised PFS expected to be completed in Q1 2020. 

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk