Vancouver, British Columbia, February 9, 2012 - Levon Resources (TSX:LVN) has started trading on the Toronto Stock Exchange under the symbol LVN. Fortunately for those following the company, it retained the same symbol it previous had on the TSX Venture Exchange.
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The company's primary focus is its 100%-owned, 20,000-hectare Cordero Project in northwest Mexico.
Levon recently announced the completion of a Preliminary Economic Assessment, which addressed only the near surface 30% of the open pit resource announced in June 2011. The earlier NI 43-101 Technical report is available both on sedar.com and on the company's website. The report projected a pre-tax internal rate of return of 19.5% covering the first four phases of open pit mining over a projected 15 year period.
The potential metal production over the initial 15 year period was 131 million ounces of silver, 190,000 ounces of gold, 1.4 billion pounds of zinc, and 1 billion pounds of lead. Mill feed production rates are estimated at 40,000 tonnes per day. The capital cost of the project is estimated to be $646 million, with operating costs estimated at $13.82 per tonne.
The report projects a 5.5 year payback on the base case, although higher current prices for silver and gold would presumably reduce the payback period significantly.
The company also holds interests in three mineral properties in British Columbia and three mineral properties located in Nevada.
Levon trades at $0.98 per share, and with 199 million shares outstanding, the company is capitalized at $195 million.
For more information please visit the company's website at www.levon.com, or phone 604-682-3701.
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