Aldebaran’s Altar copper-gold project PEA reveals 48-year mine life

Core Viewpoint - Aldebaran Resources has released a preliminary economic assessment (PEA) for its Altar copper-gold project in Argentina, indicating a mine life of 48 years and significant production potential [1][2]. Project Overview - The PEA is prepared in accordance with National Instrument 43-101 standards and presents a base-case scenario with a concentrator capacity of 60,000 tonnes per day [1]. - Aldebaran holds an 80% interest in the project, with the remaining 20% owned by Sibanye-Stillwater [2]. Production Estimates - Average annual production for the first 20 years is projected at 121,445 tonnes of copper equivalent (CuEq), comprising 108,579 tonnes of copper, 43,199 ounces of gold, and 570,217 ounces of silver [2]. - Over the initial 30 years, average annual production is expected to be 116,294 tonnes CuEq, including 105,897 tonnes of copper, 33,866 ounces of gold, and 557,239 ounces of silver [3]. - For the entire life of mine, average annual output is anticipated to be 101,413 tonnes CuEq, with 92,891 tonnes of copper, 27,020 ounces of gold, and 525,192 ounces of silver [3]. Economic Metrics - The project is expected to generate an after-tax net present value (NPV) of $2 billion (C$2.8 billion) at an 8% discount rate, with an internal rate of return (IRR) of 20.5% and a payback period of four years [4]. - Total life of mine gross revenue is estimated at $44.7 billion, with cumulative free cash flow of $10.7 billion [4]. - At higher spot prices, the after-tax NPV could increase to $3.34 billion and the IRR to 28% [4]. Capital and Mining Strategy - The upfront capital requirement is reduced by adopting a staged approach to tailings storage and underground construction [5]. - Capital intensity is calculated at $15,713 per tonne of average annual CuEq metal produced, with an NPV to initial capex ratio of 1.27 times [5]. - The mining operation will utilize a combination of open-pit and underground mining methods, with the underground strategy aimed at accessing higher-grade mineralization earlier [6].