Adriatic Metals Takes Crucial Milestone in Bosnian Licensing
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(Kitco News) – Adriatic Metals (ASX: ADT, LSE: ADT1) announced on Monday that it has received the operating license for the Rupice underground silver deposit, located in Bosnia and Herzegovina, which was approved upon completion of a public hearing conducted in Varès on July 7, 2021.
The company said Rupice’s operating permit is the final permit requirement for the construction of the Vares Silver Project, which Adriatic Metals plans to begin in the fourth quarter of 2021.
In the meantime, the company plans to deliver the DFS and ESIA in the coming weeks. The Vares Silver Project went from discovery to full exploitation in just over 4 years, Adriatic noted in a press release.
Adriatic Metals is a precious and base metals explorer and developer who owns the world-class Vares silver project in Bosnia and Herzegovina and the Raska zinc deposit in Serbia.
The Vares pre-feasibility study shows an after-tax net present value of $ 1,040 million (8% discount rate), an internal rate of return of 113%, low initial capital of $ 173 million. US dollars and a return on investment of 1.2 years.
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