![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Neptune Min | LSE:NPM | London | Ordinary Share | GB00B0LHS387 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Scoping Study Results FOR IMMEDIATE RELEASE 1 May 2008 NEPTUNE MINERALS Plc ("Neptune" or the "Company") SCOPING STUDY CONFIRMS ATTRACTIVE ECONOMICS OF SEAFLOOR MINING * Positive engineering scoping study confirms economic attractiveness of seafloor mining * Compelling margins possible from SMS mining given expected operating costs * Goal to commercially develop New Zealand SMS through pilot mining by 2010 Neptune Minerals (AIM: NPM), a leading explorer and developer of seafloor massive sulphide (SMS) deposits, has received the final report of a seafloor mining engineering scoping study for the commercial development of SMS deposits offshore New Zealand. The report was prepared by Genesis, a leading consultancy and engineering company affiliated to Technip, a world leader in engineering, technologies and project management for the oil and gas industry. The study evaluated alternative technologies for seafloor mining, ore lifting, dewatering and surface offtake. A key aspect of the study was the extensive utilisation of existing marine technologies currently deployed in the oil & gas, marine diamond and offshore dredging industries. Appropriate technologies were evaluated on cost, efficiency, reliability and environmental impact in determining the preferred mining system. Neptune is evaluating contract mining options, whereby a contractor would build, own and operate all the mining production assets. This would significantly reduce Neptune's capital expenditure for a minor raise in operating costs. Technip's recommended mining system incorporates a dynamically-positioned production vessel, a flexible production riser and an airlift pumping system connected at the seafloor to an ore crusher and seafloor miner. The advantage of this technology is that it can be used on a range of SMS deposits in multiple locations. This system considered by Technip was for a nominal 10 year SMS mining project. Envisaged operations will commence with pilot mining to optimise the technologies before operations are increased to an anticipated full production of 2 million tonnes per annum. Over the 10 year scenario; project costs in 2010 US$ terms are: Reported tonnes of SMS mined: 16.2 Million tonnes Reported Operating cost (Opex) per tonne: US$91 Reported Total Capital Expenditure (Capex): US$501.1 million (The installed cost includes a full separate pilot mining system) Neptune has calculated, based on workings from the Technip study, a total Capex plus Opex per tonne (mined, lifted and dewatered which includes maintenance and replacement costs) range of US$145-US$162 and highlights the compelling margins that are possible from SMS mining. The SMS deposits held internationally by Neptune have typical in ground value per tonne of US$500 to US$2000 yielding attractive margins. This cost does not include onshore bulk handling, metal refining and processing. Neptune is embarking on a long term advanced exploration program in New Zealand waters (Project Trident) the aim of which is to define multiple SMS deposits over which mining Licence applications will be made. These deposits will generate the SMS tonnages that will be exploited by Technip's proposed or an alternative mining system. Neptune has a goal of pilot mining by 2010. Neptune's summary of the Technip Genesis report will be placed on Neptune's website. Neptune's Chief Executive Officer Dr Simon McDonald said: "Neptune is encouraged by the reported attractive economics of mining SMS deposits confirmed by this scoping study. Genesis-Technip has provided a realistic, commercially engineered solution to the challenge of seafloor mining. Neptune is now poised to take the next step from SMS explorer to developer. Technip's reported cost per tonne highlights the attractive margins possible in SMS Mining and reinforces the company's expectation that pilot mining phase of commercial development of SMS mining by the end of 2010 is an achievable goal. Neptune is moving actively to bring that expectation to reality." END For further information please contact: Simon McDonald (Neptune MD and CEO): T: +61 (0) 2 9957 5244 By email to the Company info@nepmins.com Richard Hail (Fox Davies Capital Limited, Broker): T: +44 (0) 20 7936 5230 Fiona Owen (Grant Thornton Corporate Finance, Nomad): T: +44 (0) 20 7383 5100 Rozanne Ichikowitz (Grant Thornton Sydney): T: +61 (0) 2 8297 2522 Nadja Vetter / Matthew Law (Cardew Group, PR): T: +44 (0) 20 7930 0777 T: +44 (0) 7941 340 436 The Neptune Minerals Website is www.neptuneminerals.com - ---END OF MESSAGE---
1 Year Neptune Minerals Chart |
1 Month Neptune Minerals Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions