Adriatic Metals PLC is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, one of the highest grade and lowest cost polymetallic projects in the world. The Vares Project is fully-funded to production, with first concentrate production on track for November 2023. The Project is progressing on track with Project construction 78% complete as at June 2023.
The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 44km2 concession package. Recent exploration drill results demonstrate continuing high-grade thick massive sulphide intercepts at Rupice Northwest.
The Company is the only publicly listed mining company exploring in Bosnia and is leveraging its first-mover advantage.
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