News

November 18, 2009

Finders Resources Moves On To The Bankable Feasibility Stage At The Wetar Copper Project In Indonesia

By Rob Davies

It's taken a while, but Finders Resources has finally come out with a definitive feasibility study (DFS) for its Wetar copper project in Indonesia. The blunt numbers show a project working at a US$1.00 per pound operating cost over a nine year life and at a capital cost of US$118 million. To put some meat on the bones of those numbers, finance director Michael Stirzaker spoke to Minews, and was able to help us put it all into perspective.

The first thing to be said is that these numbers have yet to be signed off by Ausenco, so they remain unaudited as of this moment. But getting the tick in the box from the consultants only adds up to a matter of weeks, and has not stopped Finders from going ahead and ordering some long lead time items so that stage 1 can be fast tracked.

What this means in simple terms is that production from the current pilot plant can now be upped to 5,000 tonnes a year. That increase will take the...