Pacifico Minerals Limited (ASX:PMY) owns 75% of the Sorby Hills Joint Venture Project, which is edging closer to development following outstanding drilling success and a recent Resource update (44.1Mt of 4.5% Pb equivalent (3.3% Pb, 38g/t Ag) and 0.5% Zn). Sorby Hills is located 50km from the regional centre of Kununurra in the East Kimberley and has existing sealed roads to transport concentrate from site to the facilities at Wyndham Port, a distance of 150km. Established infrastructure and existing permitting allows for fast track production. Pacifico's joint venture partner, with a 25% contributing interest, is Henan Yuguang Gold and Lead Co. Ltd. Henan Yuguang is China's largest lead smelting enterprise and silver producer. Pacifico is undertaking an Optimised Pre-Feasibility Study which is due for completion in August 2020.
Why Invest in Pacifico Minerals Limited?
Company Highlights
- Experienced board and management with a proven track record in exploration and development.
- Low market cap with very significant upside.
- Rare ASX exposure to silver in a strong market for precious metals.
- Top 20 shareholders hold 50% of issued capital.
Sorby Hills Project Highlights
- Partnered with China's largest lead smelting and silver producer to develop the Sorby Hills Project.
- Key approvals secured, significantly derisking future development.
- Tier 1 jurisdiction, close to existing infrastructure.
- Compelling economics including modest CAPEX and fast payback.
- Simple, well understood geology and metallurgy.
- Reaching key investment catalysts with upcoming Optimised PFS and Ore Reserve in August 2020.
- Offtake and financing discussions underway.
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