Rafaella Resources (ASX:RFR) releases PFS for Santa Comba...

Rafaella Resources (ASX:RFR) releases PFS for Santa Comba Project

Materials

ASX:RFR MCAP $8.456M

Source: Rafaella Resources

· Rafaella Resources (RFR) has released its pre-feasibility study (PFS) for its Santa Comba Tungsten and Tin Project in Spain

· The study focused on the company's plan to develop an open-pit operation at Santa Comba

· The PFS assigns the project a proven and probable ore reserve of 4.59 million tonnes at a 0.148 per cent tungsten (WO3) grade

· It also sets out five-year mine life at 1.3 million tonnes per annum (mtpa), giving it a pre-tax net present value (NPV) of US$28.6 million (around A$40.3 million)

· An estimated US$7.1 million (roughly A$9.62 million) in capital costs would need to be spent on the project, but the PFS estimates payback could be achieved within five months

· Next steps for RFR following the release of the study include ramping up development at the site, with some work already underway

· Shares in RFR have opened trading up 2.5 per cent at 8.2 cents each

Rafaella Resources (RFR) has released its pre-feasibility study (PFS) for its Santa Comba Tungsten and Tin Project.

The PFS was conducted in-house, with help from leading consultants, and focuses on RFR's plan to develop an open-pit operation at the Spanish project.

Read the full article on The Market Herald here.