Here, Thomas Warner chats with Klara Kaczmarek, the General Manager of Corporate Development at Adriatic Metals PLC (LSE:ADT1, ASX:ADT, OTCQX:ADMLF), about the company's substantial progress and plans following the remarkable update to their ore reserve estimates at the Rupice silver-zinc-lead-gold deposit in Bosnia & Herzegovina.
This conversation sheds light on the strategic moves and aspirations driving Adriatic Metals forward, particularly focusing on the significant increase in their ore reserves, extended mine life, and ambitious production goals for the upcoming year.
Thomas Warner (TW): Klara, your company recently announced a significant 89% increase in ore reserve estimates for the Rupice silver-zinc-lead-gold deposit. Could you elaborate on the details and the impact of this update?
Klara Kaczmarek (KK): Absolutely, Thomas. We're thrilled to report that our ore reserves at Rupice have grown from 7.3 million tonnes in July 2021 to 13.8 million tonnes. This massive increase, which also includes reserves from Rupice Northwest, marks a pivotal moment for Adriatic Metals. It's a testament to our team's hard work and the site's rich potential.
TW: That's indeed impressive. How does this update translate in terms of the mine's lifespan and future prospects?
KK: This update extends our mine's life significantly – from 10 to 18 years. We're not stopping there; our ongoing exploration and drilling programs are likely to reveal further extensions. We're committed to sustainability and longevity in the mining sector and expect to announce more resource and reserve increases in the first half of next year.
TW: For investors and stakeholders interested in the finer details of this update, where can they find more information?
KK: They can refer to the detailed report we've published with AMC Consultants. It adheres to industry best practices and showcases Rupice as a world-class asset, not just for our shareholders but also for local stakeholders. It's a comprehensive document, reflecting our commitment to a long-term, multi-generational mining operation potentially extending beyond 2041.
TW: As we look forward to 2024, what can stakeholders expect from Adriatic Metals in the early part of the year?
KK: 2024 is set to be a landmark year for us. We're anticipating the start of our first concentrate production in January and will be focusing on ramping up to our nameplate capacity. Additionally, we plan to explore potential increases in this capacity from 800,000 tonnes per annum to over a million tonnes. It's an exciting time, and we're geared up for these significant developments.