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Adriatic Metals reaches crucial permitting milestone in Bosnia

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(Kitco News) - Adriatic Metals (ASX:ADT, LSE:ADT1) announced Monday that it has received the Exploitation Permit for the Rupice underground silver deposit, located in Bosnia and Herzegovina, which was approved following the completion of a public hearing conducted in Vares on 7 July 2021.

The company said that the Rupice Exploitation Permit is the final permitting requirement for the construction of the Vares silver project, which Adriatic Metals anticipates to commence in Q4 2021.

In the meantime, the company expects to deliver the DFS and ESIA in the coming weeks. The Vares silver project has gone from discovery to fully permitted for exploitation in just over 4 years, Adriatic noted in a press-release.

Adriatic Metals is a precious and base metals explorer and developer that owns the world-class Vares silver project in Bosnia and Herzegovina and the Raska zinc deposit in Serbia.

Vares pre-feasibility study highlights a post-tax net present value of US$ 1,040 million (8% discount rate), internal rate of return of 113%, low upfront capital of US$ 173 million and 1.2 years payback.

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