Tertiary Minerals Positive Scoping Study At Storuman Project

6th Jul 2010 07:40

LONDON (Dow Jones)--Tertiary Minerals PLC (TYM.LN), a mineral exploration and development company, announced Tuesday a positive scoping study for its on its 100% owned Storuman Fluorspar project in Sweden and a potential 18 year minimum open-pit mine life. MAIN FACTS: -A viable fluorspar project is predicted with a Base Case generating $616 million in revenue over an 18 year life of mine for $46 million of initial capital costs. -Storuman Project could give 3 year payback on $46 million capital expenditure -24% IRR Predicted from Operating cash flows of $17 million per year for the first five years -Tertiary now plans further drilling and more definitive studies -Fluorspar supply shortages predicted by European Commission -Shares closed Monday at 2.75 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires July 06, 2010 02:40 ET (06:40 GMT)