Adex Mining Inc. is pleased to announce the filing of a National Instrument 43-101 ("NI 43-101") compliant preliminary assessment report (the "PA") on the North Zone ("NZ") of its wholly-owned Mount Pleasant Mine Property ("Mount Pleasant" or the "Property"), located in southwestern New Brunswick, Canada with the Ontario, British Columbia and Alberta securities commissions.
As reported in a press release issued by Adex on December 9, 2009 (Adex Mining Reports Indium, Zinc and Tin Production Options for Mount Pleasant North Zone), the results of the PA indicate that there are two potentially viable production options for the NZ, including the production of tin concentrate, indium sponge and zinc metal, and the production of tin concentrate and zinc-indium concentrate. Based on a 10-year projected life for the NZ and production rate of 850 tonnes per day, the PA shows pre-tax internal rates of return ("IRR") for the tin concentrate, indium sponge and zinc metal production option and the tin concentrate and zinc-indium concentrate production option of 28.87% and 23.49%, respectively.
The press release issued by Adex on December 9, 2009 indicated an after-tax NPV and IRR for tin concentrate, indium sponge and zinc metal production option of $54.2 million and 23.94%, respectively, and an after-tax NPV and IRR for tin concentrate and zinc-indium concentrate production option of $21.5 million and 19.3%, respectively. A modification to the tax computation structure resulted in the reported after-tax values being slightly higher than the values currently indicated in the PA. The PA indicates an after-tax NPV and IRR for the tin concentrate, indium sponge and zinc metal production option of $47.2 million and 22.55%, respectively, and an after-tax NPV and IRR for the tin concentrate and zinc-indium concentrate production option of $18.1 million and 18.0%, respectively. The pre-tax NPVs and IRRs are, however, consistent between the press release issued by Adex on December 9, 2009 and the PA. Adex's position is not materially affected by the changes in the after-tax results.
To read the full release click here
FOR FURTHER INFORMATION PLEASE CONTACT:
J. Errol Farr, CMA
President, Chief Executive Officer and Director
Adex Mining Inc.
1-866-508-2339
(ADEX)
Email: investorrelations@adexmining.com
Website: www.adexmining.com
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