Description
PT Batutua Tembaga Raya is an Indonesian based company of Finders Resources Limited (ASX Code: FND) an Indonesia-focused operator with Wetar Copper Project (95% interest)
The Wetar Copper Project has several stand-out characteristics including:
•JORC compliant mining reserves with ~200,000t of contained copper metal
•A 9.2 year mine life at high grade ~2.5% Cu and low strip ratio of less than 1.0
•Proven heap leaching process with a working industry-standard SX-EW plant
•LME Grade A copper cathode product sold at a premium to LME since February 2009
•A recently completed Updated Bankable Feasibility Study which forsees:
◦Total capital costs of $167m including an accuracy provision of $17m
◦Operating cash costs of $1.07lb life of mine, 90 cents/lb at full production
◦EBITDA for the first full year of production of +$155m at $3.75/lb copper
•Local community is knowledgeable about mining and is strongly supportive of the project
