| | Company Research: Copper Bay Plc | Copper Bay plc ("the Company") was established in September 2010 in order to reclaim and process tailings deposited in Chañaral Bay, which lies adjacent to the town of Chañaral in the Atacama region of Chile, close to the mining centre of Copiapo. Over a period of nearly 40 years it is estimated that 250 million tonnes of copper bearing tailings from the Potrerillos and Salvador mines were disposed of into the Rio Salado which flows into Chañaral Bay, forming a deposit up to 10-15 metres thick and creating a beach extending approximately 4.5km long and 3km wide, both on land and under the sea.
The Company intends to reclaim and process the copper rich tailings in a purpose built facility using low cost conventional technologies to produce copper cathodes and a copper concentrate, with first production potentially as early as the first quarter of 2015.
As a result of the processing of the tailings, the copper sulphides and oxides contained within the beach will be removed to a point where the treated sands may be disposed of safely, and the project will have a significant positive impact on both the local environment and the community. Because of this, the Company enjoys strong support from the government and the local community.
The Company is seeking to raise up to £10 million through a placing and admission to AIM in order to:
(1) commission a Definitive Feasibility Study on the Chañaral Project, which will include a compliant resource estimate;
(2) develop a suitable metallurgical process flow sheet;
(3) commission an environmental and social impact assessment of the Chañaral Project; and
(4) provide the Company with additional working capital.
Subject to receiving a positive Definitive Feasibility Study, the Company will need to raise significant further funds to commence commercial operations. Current estimates envisage that the Chañaral Project will have an initial capital cost of US$236.5 million, a mine life of 9 years and an annual average copper production of approximately 25,000 tonnes.
The Company's experienced team has in-depth knowledge of Chile and may also seek to grow the Company through the identification and acquisition of further mining assets in the region. | | Technical Information | Registered Address | Charts | | Ticker Symbol | Not known | | ISIN Code | Not known | | Industry Sector | Not known | | Listing Exchange | AIM | | Trading Status | Pre-float | | First Trading Day | 13th February 2012 |
| Copper Bay Plc Address lookup pending. | Copper Bay Plc
has not commenced trading. | | Related News | | | Register Interest in this IPO | To register your interest in this IPO please enter your email address below |
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