Perth, Feb 20, 2009 AEST (ABN Newswire) - Exco Resources Limited's (ASX:EXS)(PINK:EXRSF) and Joint Venture partners Polymetals, have renewed focus on implementing the project with the aim of achieving first production and cash flow within 9 to 12 months.
With the Mining Lease having been granted in August 2007, the emphasis is now on securing final approval of the Mining & Rehabilitation Plan (MARP) for the project. Exco and Polymetals will be working closely with the relevant South Australian departments to expedite this approval ahead of embarking on what is forecast to be a relatively short development timeline of approximately 6 months.
With a forecast peak funding requirement of A$16M, and estimated operating costs of A$600/oz, the project has the ability to provide substantial free cash flows over its relatively short life.
Fox Davies Capital have published a research note summarising their view on the key aspects of the White Dam Project, which can be viewed by following the link below.
http://www.excoresources.com.au/reports.html
Contact
Michael Anderson
Managing Director
TEL: +61-8-9211-2000
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