TIGER ANNOUNCES 2016 PRODUCTION AND COST GUIDANCE Perth, Western Australia:
Tiger Resources Limited (ASX: TGS) (“Tiger”) is pleased to announce its guidance for 2016 copper cathode production and all-in sustaining costs for the Kipoi Copper Project in the Democratic Republic of Congo (DRC).
Cash Operating Cost = mining, processing, site administration & support costs and selling, export& transport costs, before adjustment for deferred waste or stockpile movements 2.
All-in Sustaining Costs = Cash Operating Cost plus royalties and sustaining capital expenditure
Tiger plans to produce between 26,000 - 28,000 tonnes of copper cathode for 2016.
The Company expects 2016 cash operating costs to be in the range of US$1.34-1.42/lb,
royalties of US$0.09/lb
and sustaining capital of US$0.13-0.14/lb
for an all-in sustaining cash cost (AISC) in the range of US$1.56-1.65/lb.
Tiger’s interim CEO Mr Mike Griffiths, currently in the DRC, has emphasised that: “This is a new era for the company and the guidance reflects efforts to streamline the business and cost reduction to achieve the planned activities and production for 2016.
” Cash operating costs The breakdown of expected cash operating costs of US$1.34/lb is set out below:
US$/lb
•Mining $0.19
• Processing $0.57
• Site administration and support costs $0.31
• Selling, export and transport $0.27
TGS Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
