07:02 AM EDT, 08/27/2024 (MT Newswires) -- Arizona Sonoran Copper ( ASCUF ) on Tuesday filed the technical report for the Cactus project's preliminary economic assessment (PEA) on SEDAR+.

The Cactus PEA envisages an average 86,000 short ton per annum open pit copper heap leaching operation over a 31-year mine life.

In total, 5.3 billion pounds or 2.7 million short tons of LME Grade A Copper Cathodes is detailed for production directly onsite via solvent extraction and electrowinning hydrometallurgical processing.

The project has an after-tax net present value discounted at 8% of US$2.03 billion and an after-tax internal rate of return of 24%. Payback period is 4.9 years and development capital including contingency is US$668 million.

Average annual copper cathode production at the mine is 232 million pounds or 116,052 short tons over the first 20 years of operation. Copper cathode production is 5.34 billion pounds or 2.7 million short tons over the 31-year operating mine life.

The company's share price gained 4.9% to $1.73 on Monday.