Ann: Sandfire Announce Positive Monty Feasibility Study, page-5

What angers you about SFR?

The bosses over at TLM seem happy enough:

Commenting on the Feasibility Study outcomes, Talisman Managing Director Dan Madden said:

“We are very pleased with the Monty Feasibility Study results released today which provide a robust basis for moving forward. The key operating and financial outcomes highlight the sheer quality of the Monty deposit and the strong expected financial returns from its development.

“The execution of an Ore Sale and Purchase Agreement on commercial terms with Sandfire allows Talisman to proceed with a low risk and low capital intensity development route. Talisman will sell its share of Monty ore to Sandfire and thus be effectively leveraging off the existing DeGrussa processing plant and infrastructure only 10 kilometres from Monty. This is a highly logical outcome that provides significant economic benefits directly to Talisman whilst minimising our exposure to processing and product risk.

“The excellent financial outcomes of the Feasibility Study have provided the Talisman Board with the confidence to give approval to proceed with Monty development. Discussions with potential financiers are well advanced and Talisman is confident of obtaining debt financing for up to 100% of its share of pre-production capital. The Board expects to mandate the selected financier early in the second quarter of the 2017 calendar year. Based on our current expectations, first ore production from Monty is targeted for the fourth quarter of calendar 2018.

“Importantly, we remain very excited about the upside that exists both from potential extensions to the Monty deposit and the significant untested potential across the 8 kilometre Monty Corridor, and the larger Springfield Joint Venture area. Exploration drilling is expected to continue in parallel with development of Monty to test for potential extensions to the deposit and target further new discoveries across the broader ground package.”


Adding to Mr Madden’s comments, Talisman Chairman Jeremy Kirkwood said:

“I would like to take this opportunity to thank our Springfield Joint Venture partner, Sandfire, for the effort and work undertaken in their role as Manager of the Joint Venture in preparing and delivering the Monty Feasibility Study. I also thank the external consultants for the key roles that they have played. Finally, I acknowledge my Talisman colleagues for their hard work and dedication to the task of progressing Talisman’s interest in Monty and the broader Springfield Joint Venture to this very exciting point.

“Subject to receipt of final approvals and funding, the Board looks forward to shareholders enjoying the expected benefits of Talisman rapidly joining the ranks of Australian copper and gold producers.”