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Denarius Metals

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Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts.

Investor website: https://denariusmetals.com/

About

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts. The company has projects in Colombia and Spain, focusing on metals such as copper, nickel, zinc, lead, gold, silver, cobalt, palladium, and platinum. In Colombia, Denarius is producing gold and silver at its 100%-owned Zancudo Project, while in Spain, it aims to restart production at the Aguablanca nickel-copper mine within the next 12 months.

Verified company data

Cash position
~$17.9M
Shares outstanding
207,621,865
Fully diluted shares
347637279
Mineral resource
The PEA is based on the MRE announced by the Company on September 5, 2023 for the Zancudo deposit with an effective date of July 31, 2023. The MRE is based on the most recent interpretation of ten geological domains of the Project. Five domains representing the sub-horizontal Manto and five domains representing various steeply dipping mineralized veins throughout the Project. These mineralized zones have been analyzed for grade capping and compositing for statistical analysis, geostatistical analysis, block modeling and grade interpolations using industry accepted standards. Mineral resources in this news release were estimated in accordance with the Canadian Institute on Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Reserves, prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council on May 14, 2014. The total MRE for the Zancudo deposit has been classified as inferred mineral resources.
Projects
["Zancudo Project: Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF) announced the results of a Preliminary Economic Assessment (“PEA”) for its 100%-owned Zancudo Project (the “Project”), which includes the historic producing underground Independencia Mine, located in the Municipality of Titiribi, Department of Antioquia, Republic of Colombia, approximately 30km southwest of Medellin. The PEA was prepared in accordance with the Canadian Institute of Mining Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in National Instrument 43-101 (“NI 43-101”) with an effective date of October 24, 2023. The PEA affirms the robust economic viability of the planned underground mining operation at the Zancudo Project, generating near-term production and cash flow from a long-life asset yielding attractive returns for shareholders. Material will be mined by a local mining contractor commencing in 2024 and processed by the Company through conventional crushing and milling facilities, initially at a rate of 500 tonnes per day (“tpd”) and increasing to 1,000 tpd in 2025, to generate a high-grade gold-silver concentrate. The PEA envisions a 10-year mine life over which the Company expects to generate net revenue of approximately US$1.0 billion from the sale of approximately 576,000 payable ounces of gold and 8.8 million payable ounces of silver at a life-of-mine (“LOM”) average all-in sustaining cost (“AISC”) of US$1,059 per ounce of gold. The Zancudo deposit remains open for further expansion in all directions and a 10,000 meters drilling program is expected to commence by the end of this year."]
Leadership
Serafino Iacono (Executive Chairman and CEO, Experienced leader in the mining sector with a strong track record in corporate governance and strategic planning.), Paul Sparkes (Lead Independent Director, Board member since 2020.), Mateo Restrepo Villegas (Director, Managing Partner of Impact Capital with extensive experience in mining, infrastructure, and banking.), Federico Restrepo-Solano (COO, Proven track record in bringing projects into operation.), Hernan Juan Jose Martinez Torres (Lead Independent Director, Former Minister of Mines in Colombia and President of Exxon Mobil Colombia, passed away January 2024.)

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