Ann: Hancock to earn in to the Mt Bevan project, page-169

I’m sure Hancock and Atlas Iron are perusing over our neighbours Macarthur Minerals (MIO) Feasibility Study from todays announcement.

HIGHLIGHTS
• Feasibility Study completed for a 3 Mtpa (dry basis) magnetite mining and processing operation.
• Feasibility Study supports a maiden Ore Reserve of 237Mt for a 25-year mine life.
• Production of high-grade magnetite concentrate targeting 66.1% Fe with minimal impurities suitablefor pellet feedstock.
• Initial capital investment of USD 569m (AUD 801m) with mine pre-production capital of USD 43.8m(AUD 66.1m)
• All-in C1 operating costs of USD 71.74 / dmt (AUD 101.05/ dmt).
• Positive project economics with Pre-tax NPV of USD 579m (AUD 816m) a 13% IRR and Post-tax NPVof USD 315m (AUD 443m).