Mabilo High-Grade Copper and Gold Project
– Philippines • RTG Mining holds a 40% interest in Mt. Labo Exploration and Development Corporation (“Mt. Labo”which owns the high-grade Copper and Gold Mabilo Project in the Philippines, together with a 2% Net Smelter Royalty and a loan of approximately US$27M, to be repaid out of the proceeds of Stage 1, the planned Direct Shipping Operation (“DSO”
Looking forward to the updated achievements from last Quarterly!!!!!!!!
The development plans with our joint venture partner, TVI Resource Development (Phils) Inc. (“TVIRD) continue to progress well - key advancements made during the quarter include: o Strong collaboration between the teams as focus continues towards operational start-up of high-grade DSO plans o Detailed review of operational plans for the DSO stage – this includes finalisation of start-up budgets o Reviews completed to date have indicated there will be no material change in total capex •
The DSO operation, which requires low capital for start-up, will access the primary source of ore being the 0.104Mt of supergene chalcocite material at an average reserve grade of 20.7% Cu. A review of the CAPEX costs in the Feasibility Study, being those for the DSO, confirmed the budget remains at less than US$25 million. •
Key objectives for Q1 2024 include:
Advance financing plans with JV partner o
Progressing the acquisition of any necessary surface rights
In addition, with the restructuring of the Mabilo Project now agreed, the initial focus is to refresh any remaining operational permitting matters, address financing plans and undertake a review of the costings for Stage 2 in the 2016 Feasibility Study, together with finalising the acquisition of surface rights, following which, a commitment to development is anticipated to be formalised by the Board of Mt. Labo.
RTG conducts fortnightly meetings with TVIRD and good progress continues to be made towards the completion of start-up plans.
This is a copy and paste from the last quarterly
Lets hope the next one by managemnt isn't the same
gltah
Mabilo High-Grade Copper and Gold Project – Philippines • RTG...
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