Located in the Karas region of southern Namibia, Haib is one of the largest undeveloped copper deposits in Africa.
A 2018 estimate indicated the deposit hosts a 43-101 indicated resource of 456.9 million tons at 0.3% copper, equal to 3.1 billion pounds of copper and an inferred resource of 342.4 million tons at 0.3% copper for 2.2 billion pounds of copper at a cut-off grade of 0.3%.
More recently, a preliminary economic assessment demonstrated that at a price of copper of $3 per pound, it generates an after-tax NPV of $950 million and an after-tax IRR of 30%. At $4 per pound, those figures rise to an after-tax NPV of $1,650 million and an after-tax IRR of 42%.
The updated resource estimate will follow the completion of Deep-South’s current drilling program, which aims to sink up to 10,000 metres (m), with a first phase of 5,000m, mainly focused on growing the higher-grade zone of the deposit uncovered by Deep-South in 2019.
"We are pleased to have appointed MSA; their vast experience will help to enhance an already robust project and unlock further value while reducing risk for our shareholders,” Deep-South CEO Pierre Leveille said in a statement.
“With the backdrop of a strong copper price, we are highly optimistic for the coming years that Haib will garner additional interest from investors and other interested parties.”
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