MMIH appoints Pinnacle Pathways for PFS

Binks is a competent person (metallurgy) of AusIMM, who holds B.Eng (Hons) Metallurgical Engineering and M.Eng. Sci. in Chemical Engineering degrees, and has extensive experience in directing, managing and contributing to feasibility studies for international minerals projects, including projects in the Philippines.

The PFS will take approximately 12 – 18 months to complete. It will help MMIH determine an optimum project configuration and reduce uncertainty by providing an early stage analysis of the Mankayan project and an overview of the logistics, capital requirements, key challenges and other information relating to resource modelling and mine design, as well as other factors that may impact the final project.

At the end of the PFS, there will be a clear preferred project option that is based upon optimising financial returns and mitigating risk. The preparation phase of the PFS would generally include the following work:

• Reviewing the historic project information.
• Preparing the scope of works for consultants in disciplines such as geology, mining, processing, infrastructure and financial analysis.
• Selecting the relevant consultants for a request for tender, and the subsequent meetings and discussions with them.
• Reviewing and evaluating the various consultants’ submissions and responses and making any clarifications.
• Recommending the consultants for selection.
• Developing an overall budget and schedule.

After the preparation phase is completed, management of the PFS begins, with the start date contingent upon the various discipline consultants’ schedules, drilling and/or test work programme.

David Cornell, CEO of MMIH, commented: “A pre-feasibility study is an important part in the decision-making process as it helps to determine the capital requirements for bringing a mining project forward into the feasibility stage. It will also give investors some assurance by identifying issues and determining what it takes to bring the Mankayan project into production.”

MMIH has signed a sale and purchase agreement (the SPA) with AsiaPhos Ltd (AsiaPhos), in November 2020 for AsiaPhos to acquire the entire issued and paid-up share capital of MMJV Pte. Ltd as per the terms and conditions of the SPA, which will constitute a reverse takeover of AsiaPhos.

Read the article online at: https://www.globalminingreview.com/exploration-development/30112020/mmih-appoints-pinnacle-pathways-for-pfs/