Western Copper Corporation (TSX:WRN) is an exploration and development company with significant gold, copper and molybdenum resources and reserves in four Canadian properties. It started trading in May 2006 after being spun out from Western Silver Corporation which was acquired by Glamis Gold for its Peñasquito Project.
Western Copper's flagship asset is the Casino project located 300 km northwest of Whitehorse, Yukon, which has reserve of 8 million ounces of gold, 4.4 billion pounds of copper, and 475 million pounds of molybdenum, contained in approximately 1 billion tonnes of ore. A positive pre-feasibility study was completed in August 2008, projecting a 30 year mine life with a 20.4% pre-tax IRR, C$1.8 billion NPV (8%) and a 3.8 year payback period.
The Company's Carmacks project, located 200 km northwest of Whitehorse, Yukon, is a near term producer and is permitted for construction. It will produce 32 million pounds of cathode copper per year at a cash cost of US$ 0.84/lb of copper. A positive feasibility study was completed in May 2007.
The Company has two other copper projects in its development pipeline: Island Copper Project in British Columbia and Redstone in the Northwest Territories.
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