A producing underground nickel laterite mine until 2013; currently on care and maintenance.
Covered by a 20-year mining license issued in 2008, renewable for 10 years and up to 99 years.
With historic resource of 22.4 million tons grading 0.99% Ni, 49.13% Fe and 0.065% Co. Remaining historic resource at 21.3 million tons*.
Previous mining operations undertaken by state-run mining enterprise (1985–1992) which delivered the laterite to Elbasan Ferro-Nickel plant some 58 kms away (the plant no longer exists).
Recent mining operations done by Gerold Sh.pk. (2008-2013), the current mining license holder.
All underground infrastructure and machinery are in place and in order.
The mine is 5 kms to the main highway and another 16 kms to rail loadout.
Recent underground sampling encountered high-grade samples – up to 0.54% Co and 1.92% Ni.
EVX will conduct due diligence that will include estimation of the requirements and cost to re-start operations in 6-12 months.
*See Cautionary Statements (http://www.europeanelectricmetals.com/cautionary-statement/)