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Abacus Mining & Exploration Corp. (AME:CA)
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Web site:
http://www.amemining.com
With resources rich in copper and gold. Abacus Mining is a mineral exploration and development company with advanced-stage projects located in the prolific Afton Mining Camp near Kamloops, British Columbia.
We offer risk capital investors the opportunity to participate in a progressive Company with clear vision to develop its properties with the following investment highlights:
- Advanced stage copper and gold exploration targets with near term production potential
- Over $50 Million spent on project exploration
- Ownership of existing mining infrastructure including buildings, tailings storage, water rights and related permits
- Excellent access to projects with the added advantage of nearby highways, rail and power
- Exploration and development in a proven area of past production
- A team of industry professionals with experience in exploration, production and capital markets
Afton-Ajax
South Central British Columbia, Canada
In June 2009 Abacus completed a compliant positive preliminary economic analysis on the Ajax property, after a series of successful drill programs from 2005-2008. The results of the PEA indicate the potential for a robust mining operation capable of processing 60,000 tonnes of ore per day. Metal prices used for the base case are US $2.00 per pound copper and US $700 per ounce gold.
The Ajax property comprises eight 100% owned Crown grants including the historic Ajax East and West pits. Also included is an interest in claims between the pits acquired as a result of a joint-venture agreement signed with New Gold Inc. The Ajax area lies nine kilometres southeast along an existing haul road from the Afton mill, shop facilities, tailings area, and water rights which Abacus agreed to purchase in 2005 from Teck-Cominco.
Highlights (All figures in US dollars and pre-tax)
- Average annual production estimated at 106 million pounds of copper and 99,400 ounces of gold in concentrate
- Net present value of $192.7 million discounted at 8%
- Mine life of approximately 23 years
- Return on initial capital expenditures of $535 million is 40.4%
- Existing infrastructure including mill buildings, shop facilities, tailings area, haul road, water rights and related permits
- Excellent exploration potential for expansion on strike and at depth
AME:CA
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