Mineral & Financial Investments Ltd (AIM:MAFL) chief executive Jacques Vaillancourt speaks to Thomas Warner from Proactive about the latest news from the Lagoa Salgada Project in Portugal, the recent investment in Luca Mining as well as the performance of Mineral & Financial overall.

The company announced the results earlier this week of its initial NI 43-101 Feasibility Study for the Lagoa Salgada VMS Project, based upon an updated Mineral Reserves and Resources Estimate. Vaillancourt gives his take on the study, saying that although the study showed slightly lower results than anticipated, the measured reserve component still demonstrated a “robust” NPV of $147 million.

The study also revealed that the all-in sustaining cost for the first five years would be approximately 59 cents per pound of zinc equivalent, with an annual cash flow of $56 million for the same period.

Vaillancourt says that while inflation has affected the upfront capex for the project, he still sees “enormous [exploration] potential around the Project.

Additionally, Vaillancourt discusses an investment in Luca Mining announced in April 2023.

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Mineral & Financial Investments, a global resource investment company, continues to be highly optimistic about the enormous potential at the Lagoa Salgada project in Portugal. The company’s confidence stems from recent exploration and drilling activities that have revealed promising results.

Lagoa Salgada, located in the prolific Iberian Pyrite Belt, is a strategically important base metal project for Mineral & Financial Investments. The company believes that the site could contain significant mineral resources, including copper, zinc, and lead, with the potential for additional discoveries.

The most recent exploration campaign at Lagoa Salgada, led by Mineral & Financial Investments’ joint venture partner Ascendant Resources, has returned notable results. The drilling campaign targeted the South Zone area of the project and intersected high-grade mineralization, validating the company’s positive outlook for the site.

Preliminary assays from the drilling campaign have reported impressive copper-zinc-lead mineralization, including intersections with grades of up to 10.3% zinc-equivalent. This provides strong evidence of the project’s substantial mineral potential and supports the company’s belief in the economic viability of Lagoa Salgada.

Mineral & Financial Investments has expressed confidence in Ascendant Resources’ ability to advance the project. Ascendant Resources brings significant technical expertise and a proven track record in successfully developing and operating mining projects. Their presence further strengthens the outlook for Lagoa Salgada and bolsters the company’s investment thesis.

Furthermore, with the recent surge in base metal prices, driven by global economic recovery and increased infrastructure spending, the potential economic value of Lagoa Salgada has become even more compelling. As demand for base metals rises, the project’s prospects for profitability increase substantially.

Mineral & Financial Investments remains committed to supporting the development of Lagoa Salgada, both financially and operationally. The company understands the importance of investing in advanced exploration techniques and infrastructure to maximize the project’s potential.

In addition to its focus on Lagoa Salgada, Mineral & Financial Investments also boasts a diversified investment portfolio in other mining projects and financial assets. The company’s expertise in identifying and capitalizing on lucrative resource investments has positioned it favorably within the industry.

As Mineral & Financial Investments continues to see enormous potential at Lagoa Salgada, it is clear that the company’s confidence is supported by promising exploration results and an optimistic outlook on base metal prices. With ongoing support and strategic management, Lagoa Salgada has a bright future ahead, and the project represents an exciting opportunity for investors seeking exposure to the base metals sector.