Ascendant Resources CEO Mark Brennan joined Steve Darling to announces the company has released a Preliminary Economic Assessment on the Lagoa Salgada VMS project in Portugal. Brennan telling Proactive he is very happy with the numbers that showed a low pre-production capital cost of $132 million and a post-tax payback of 1.5 years post-tax NPV8% of $246 Million and post-tax IRR of 55% and an average EBITDA of about 117 million and post-tax, free cash of approximately US$82 million per annum for the first 5 years.
Brennan also told Proactive, the company has announced results from its Phase 2 metallurgical test work program. That program saw support for the use of a conventional polymetallic process flowsheet capable of recovering copper, lead, zinc, gold, and silver in three saleable concentrates.