Technical Information
Dr. Nathan Chutas, PhD, CPG, Senior Vice-President of Operations for Freeport, is a qualified person for the purposes of National Instrument 43-101. The technical information contained on this website has been reviewed and approved by Dr. Chutas.
A Preliminary Feasibility Study (“PFS”) titled, Independent Technical Report on the Yandera Project – Pre-Feasibility Study, prepared for Era Resources Inc., with an effective date of November 27, 2017, expected the Yandera Copper Project to realize a net present value (“NPV”) and internal rate of return (“IRR”) of USD1,038 million and 23.5% respectively, in real terms. A capital investment of USD930 million was required at the time, which would be paid back after 5 years and 8 months.
The PFS was prepared prior to the Company acquiring an interest in the Yandera Copper Project, and is derived from historical estimates which the Company is not treating as current. This information is intended to provide readers with context on historical analysis conducted on the Yandera Copper Project, however the Company cautions that a qualified person has not done sufficient work to classify any historical estimates in respect of the Yandera Copper Project as current and any analysis conducted by previous owners of the Yandera Copper Project, may rely upon assumptions which are no longer reasonable or accurate in the context of the current market.
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Forward-Looking Statements
Certain of the statements made and information contained herein are “forward-looking statements” within the meaning of applicable Canadian securities legislation, and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to as “forward-looking statements”). The forward-looking statements relate to the expectations of Freeport Resources’ management about future events, results of operations and the Company’s future performance (both operational and financial) and business prospects. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “contemplate”, “continue”, “estimate”, “expect”, “intend”, “propose”, “might”, “may”, “will”, “shall”, “project”, “should”, “could”, “would”, “believe”, “predict”, “forecast”, “pursue”, “potential”, “objective” and “capable” and similar expressions are intended to identify forward-looking information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this Site should not be unduly relied upon. In addition, this Site may contain forward-looking statements and forward-looking information attributed to third-party sources.
All such forward-looking statements are based on certain assumptions and analyses made by the Company’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the following: volatility in the prices of copper; changes in the demand or supply of copper; changes in the climate policies of governments and corporations; timing of necessary permits; competition; fluctuations in currency exchange and interest rates; governmental and other regulatory changes; availability of insurance; availability of additional financing and reliance of key personnel. The foregoing list of factors is not exhaustive. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking statements contained in this Site, except as required by law. You are cautioned not to place undue reliance on forward-looking statements.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or implied by forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended.
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