MultiMet’s project team has centuries of combined expertise that benefits each project. Successes and lessons learned from previous projects are applied to strategically map each development phase. Successful strategy applied on the CuMo Project is being used as a template for the work on the newly-acquired Bleiberg Project.
MultiMet is focused on developing its CuMo and Bleiberg Projects through companies in which MultiMet holds large ownership positions. CuMo is an advanced stage exploration project, and establishing itself as one of the largest, lowest-cost, and most profitable molybdenum producers in the world, as well as a significant producer of copper, silver, and U.S. critical metals tungsten and rhenium. Cumo is being managed by Idaho Copper, who owns 100% of the project. Blieberg, located in Austria, is a historic underground produced of Zinc, Germanium, Lead and fluorspar. With its eyes on these goals, the Company leverages responsible, ethical, and sustainable methods of exploration and development in all aspects of its business practices.
MultiMet will only move forward with a mine that respects the environment, creates sustainable jobs and provides benefits to all stakeholders. MultiMet ‘s goal is to design the best developmental plan for the CuMo and Blieiberg Projects from an economic, social and environmental perspective. In order to achieve this goal, millions of dollars will be invested in a comprehensive program consisting of environmental research and analyses, engineering, planning and communications. This information is critical to mine planners and engineers in determining the best way to proceed with project development.
To obtain a mining permit for the CuMo Project, MultiMet is required to complete a Bankable Feasibility and Environmental Impact Study. The Company estimates that this will take approximately three to four-years and cost $100M, with mining production possible in five to seven-years. As MultiMet works to complete its Feasibility Study, the requisite permitting work will also be undertaken. This strategy will assist in fast-tracking the mine permitting process. These activities will culminate in the concurrent delivery of the Feasibility Study, Environmental Impact Statement and Mine Development Permits.
Idaho Copper, who holds the Cumo project, is considering multiple financing arrangements for the CuMo Feasibility Study. These include but are not limited to: off-take arrangements (based on achievement of defined benchmarks); equity plus direct interest; joint venture earn-in; and, convertible debentures. With a successful Feasibility Study, Idaho Copper expects that approximately 70% of the capital needed for infrastructure costs will be funded through loan devices and arrangements, with an additional capital obtained through self-equipment financing by major equipment vendors.
Bleiberg is at the initial stages of exploration and development and MultiMet has signed a joint venture agreement with Battery Age Metals of Australia to fund the development of Bleiberg. Battery Age Metals can earn an 80% interest in the project over a six year period. Battery Age metals is examining the data and determining targets and remaining mineralization in the historic mine. Approximately 6 to 7 kilometers of strike remain undeveloped and under explored.
MultiMet believes in the practice of mining pit optimization, which is the scheduled mining of higher grades of ores earlier in the production cycle and lower grades at a later date. This ensures faster payback of mine costs. The CuMo Project pit design will also be optimized every five years and will take into consideration the current metal prices and production mill throughputs and recoveries. These optimization practices ensure that profits from the operation will be maximized. With its low-cost, open-pit design, large economies of scale, and diversity of high-demand minerals and elements, production costs at the CuMo Project will be kept low, which significantly increases profitability and competitiveness, even in the face of an economic downturn.
MultiMet , strategically, acquires projects that are in politically-stable and mining-friendly jurisdictions. The CuMo Project is situated in an excellent location near Boise Idaho, USA. This State has an extensive mining history. Accessibility to nearby rail and road transportation, readily available workforce and mining infrastructure will ensure that the CuMo Project has the necessary components for a long mine life.
The CuMo Project has the potential to market the following end products: Molybdenum, Copper and Silver concentrates from the mine site and Rhenium and Sulphuric Acid after refining from a different site. Other possible products could include Tungsten, Gold, Magnetite and a Molybdenum-based natural micro-nutrient fertilizer.