This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Copper North Completes 2012 Feasibility Study Update For Carmacks

VANCOUVER, British Columbia, November 1, 2012 /PRNewswire/ --

Copper North Mining Corp. ("Copper North" or "the Company") (TSX.V: COL) is pleased to announce results from its National Instrument 43-101 ("NI 43-101") feasibility study update ("the Feasibility Study") for the wholly-owned Carmacks Copper Project (" Carmacks"), located in the Yukon Territory, Canada.

The Feasibility Study concludes that development of Carmacks can be achieved with an after-tax internal rate of return ("IRR") of 15.6%, based on 100% equity financing. The project has an after-tax, net present value ("NPV") of $55.0 million using an 8% discount rate, the U.S Securities and Exchange Commission ("SEC") three year historical copper price of US$3.63/lb, and an exchange rate of US$1: C$1.

President and Chief Executive Officer, Dr. Sally Eyre stated "despite significant cost increases across the mining sector, coupled with a stronger Canadian dollar, the 2012 Feasibility Study demonstrates that Carmacks remains economically viable at current copper prices. The completion of the study is another important step towards de-risking the project. However, to further improve project economics, the Company is considering a brownfields exploration program that would focus on developing the known copper oxide resource potential at Carmacks".

The Feasibility Study was prepared in accordance with the requirements of NI 43-101 by M3 Engineering and Technology Corporation ("M3") of Tucson, Arizona with resource estimation provided by Tetra Tech WEI Inc. ("Tetra Tech") (formerly Wardrop Engineering ("Wardrop")) of Vancouver, British Columbia, and reserve estimation and mine costing by Independent Mining Consultants ("IMC") of Tucson, Arizona. Geotechnical, water management and water quality studies were conducted by Golder Associates ("Golder") of Burnaby, British Columbia. Environmental data were collected by Access Consulting Group ("Access") of Whitehorse, Yukon.

In the Feasibility Study, M3 recommends that the Company proceed with the development of Carmacks, which is planned as a conventional open-pit oxide mine, with acid heap leach and solvent extraction, electrowinning ("SXEW") process facilities.

Copper North will continue its permitting efforts to secure the required licences, so that it can proceed with project planning, financing and execution. Subject to permitting and financing, the Company plans to initiate basic engineering in late 2013 and commence construction in early 2014.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.05 -1.20%
FB $117.53 0.08%
GOOG $696.48 0.60%
TSLA $222.09 -4.40%
YHOO $35.99 -0.06%


Chart of I:DJI
DOW 17,639.02 -111.89 -0.63%
S&P 500 2,049.89 -13.48 -0.65%
NASDAQ 4,724.1240 -39.10 -0.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs