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Panoro mulls taking Antilla to production, Shaheen says

Keywords: Tags  Panoro Minerals, copper, Peru project, Luquman Shaheen, Everdeen Mason

NEW YORK — Panoro Minerals Ltd. is considering its options for bringing its Antilla copper project in Peru to production, company president and chief executive officer Luquman Shaheen told AMM this week.

"Once we get to bankable feasibility we will figure out the next step," Shaheen said. "Either it’s developed by Panoro, a joint venture, or sale of the (project)."

Vancouver, British Columbia-based Panoro is currently developing 14 projects in Peru, the largest of which are Antilla and Cotabambas, both in the southern part of the country.

The company will complete its preliminary economic studies for Antilla and Cotabambas by the end of this year or early next year, and then move on to the bankable feasibility study, Shaheen said.

Cotabambas is a larger-scale project that is further along, with 400 million tonnes of resources and an estimated $1.5 billion in capital costs, Shaheen said. But Antilla, which has a resource estimate of 154.4 million tonnes, is an important project because it has less infrastructure requirements, he added.

"The requirements are lighter," Shaheen said. "We expect the Antilla project could be a good first step to being a producer. It’s a more manageable (project)."

The key is to get Antilla and Cotabambas to bankable feasibility, Shaheen said. A bankable feasibility study investigates all technical parameters and associated costs – including the cost of shipping concentrate, the amount of resources, engineering costs and more. The further the company gets into the bankable feasibility study, the more uncertainties are eliminated and the greater chance of finding investors, buyers or partners, he added.

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