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ASX-listed explorer Adriatic Metals’ shareholder register has been blown open for the first time, paving the way for some big mining sector names to take a closer look at the company and its projects.
UK-based Adriatic Metals wants to dig for silver and other metals in Bosnia and Herzegovina. Its flagship project, Vares, was said to be worth $US1 billion on a net present value basis (discounted at 8 per cent), could deliver 113 per cent internal rate of return post tax and require $US173 million of capex, according to its definitive feasibility study.
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