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MENAFN - ProactiveInvestors - Australia - 14/11/2012

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(MENAFN - ProactiveInvestors - Australia) Dart Mining (ASX: DTM) is preparing to release an announcement regarding a capital raising by way of a share placement, with the company granted a trading halt from the ASX today.

The company is currently advancing its Unicorn Molybdenum-Copper-Silver Project in north eastern Victoria following the completion of a Scoping Study that indicates strong economics for the project.

Highlights of the study include a net present value (NPV) of 255 million based on a 14 year mine life and a pre-tax internal rate of return of 27% at a discount rate of 10%. An additional six year mine life could add around 50 to 70 million to the NPV.

Planned activities over the next 12 months include additional metallurgy, prefeasibility designs and studies, and the start of the initial approvals process.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 16th November.

 






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