Capital Requirement for Wetar Copper Declines US$34 Million

SYDNEY (Yosefardi) – Finders Resources Ltd said a revised design led to capital reduction of US$34 million for its Wetar Copper project in Maluku province.
Finders said this morning that the revised preliminary capital is now US$133 million before contingency.
The project, located in Wetar Island, Maluku province, would produce 25,000 tons per annum of copper cathode, the second of such kind in Indonesia.
A bankable feasibility study for the project is expected next month, which would pave the way for faster operation of the facility.
“For the six years commencing from the plant commissioning until production tails off, operating costs should be lower than the average at US$0.94 per pound,” Finders claimed.