Discovery Metals (ASX:DML, BSE:DML, AIM:DME) announces the results for the completed studies on the technical and economic feasibility of the Company’s 100% owned Boseto Copper Project.

•  The Bankable Feasibility Study (BFS) examines the open pit mining of proved and probable ore reserves only for an initial 5 year period, with power provided by diesel generation.
• The Boseto Development Plan (BDP) examines the continuation of mining beyond the BFS period, with mining of reserves plus inferred mineral resources via open pit methods and inclusion of the Zeta underground mine. The BDP covers a 15 year period and establishment of a coal fired power station to provide power.
• Feasibility Study Outcomes are: 

1. BFS Net Present Value (5 years): US$ 251M at a C1 cash cost of US$1.28/lb*2. 
2. BDP Net Present Value (15 years): US$ 375M at a C1 cash cost of US$1.23/lb*2. . 
3. Payback for both studies is less than 2 years after production commences. 
4. Demonstrated economic potential for operations to continue beyond 15 years. 

 The board of Discovery Metals has instructed management to proceed to bank the Boseto copper project and commence placement of long lead items and limited early works. 

Brad Sampson, the Managing Director of Discovery Metals comments, “These studies demonstrate that the Boseto copper project is economically robust over a range of copper prices. The large resource base remains only partially depleted in both studies and the Boseto copper project may offer shareholders optionality on the copper price for an extended period.” 

Details are contained in the attached booklet which is available here

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