Tiger Resources Limited - September 2011 Quarterly Activities Report
31.10.2011 | CNW
Not for Distribution to United States Newswire Services or for Dissemination in the United States
ASX Code: TGS
TSX Code: TGS
PERTH, Western Australia, Oct. 31, 2011 /CNW/ - Tiger Resources Limited
advises that its Activity and Cash Flow Reports for the quarter ended September 30, 2011 have been issued today in accordance with the ASX listing rules. The full text of the reports is available on the Company's website at www.tigerresources.com.au and under the Company's profile at www.sedar.com.HIGHLIGHTS
NOTE: All references in this report are to US Dollars, unless otherwise indicated.
Kipoi Copper Project
-- Kipoi Stage 1 - Heavy Media Separation (HMS) operations:
o Ore processed - 172,306 tonnes
o Concentrate produced - 24,809 tonnes
o Copper in concentrate produced - 5,133 tonnes
o Operating cost - $0.68/lb
-- Kipoi Stage 2 - Solvent Extraction Electrowinning (SXEW)
Scoping Study:
o Average annual production over Life of Mine (LOM) of 42,350t LME
grade A copper cathode
o Operating cost of $0.63/lb for the first three years (average LOM
$0.92/lb)
o Capital cost to first production of $151m
o After-tax NPV (11% discount rate) and IRR of $272m and 48%
o Fully funded from Stage 1 free cashflow, with payback in 15 months
Lupoto Copper Project
-- Exploration drilling completed during the quarter at:
o Mwana East - 5,106m Air Core (AC)
o Kapampala - 1,380m AC
Corporate
-- Cash and receivables of $6.8m at the end of the quarter
-- Tiger included in the S&P ASX 300 Index from 17 September 2011
Tiger Resources Limited
CONTACT: Office Address: Level 1, 1152 Hay St West Perth, WA 6005
PO Box 379 West Perth WA 6872, Australia
Phone: 61 (0)8 6188 2000 Fax: 61 (0)8 6188 2099
Email: tiger@tigerez.com Web: www.tigerresources.com.au