Bravo Mining reports Luanga project PFS with after-tax NPV8% of US$1.45 billion

Bravo Mining released a pre-feasibility study for the Luanga project in Pará, Brazil, based on a vertically integrated mine-to-smelter plan. Base case economics: after-tax NPV at 8% of USD 1.45 billion; after-tax IRR of 35.1%; post-tax payback of 2 years. Upfront capex of USD 784.9 million; sustaining capex of USD 98.2 million; peak funding requirement of USD 877 million. Maiden proven and probable reserve of 86.7 million tonnes at 2.77 g/t PdEq, containing 7.73 million oz PdEq. Plan targets 10 Mtpa throughput, 9.6-year mine life, average annual payable 4E production of 394,000 oz, C1 cash