Refer to PNA's June quarterly. Inca de Oro's feasibility study concluded the project was unviable in its current form with a poc of $3 /lb.
The problem was the higher C1 after the first 5 years of production. The reason for the higher cost was twofold, firstly not enough resource hense they are now exploring ways to exploit the oxide resource at Inca as well as incorportating resources from nearby deposits. Secondly the electricity cost was high as power companies are using diesel generators to expand supply in the absence of approvals for new Baseload power stations in the area.
PNA Price at posting:
$3.38 Sentiment: Hold Disclosure: Held
