HIRU Corporation (OTC:HIRU) Stock On Radar After Feasibility Scoping Study
This past Friday, HIRU Corporation (OTC:HIRU) had come into focus following a significant new announcement addressed to its shareholders, and it could be a good idea to keep an eye on it this week.
HIRU Corporation (HIRU) Announces Feasibility Scoping Study for Balfour Project, Tasmania
The company announced a thorough feasibility scoping study for its Balfour Copper Project, situated in the state of Tasmania in Australia. HIRU Corporation announced that the study would outline the financial and operational parameters for the initial stages. As a consequence, the study would provide the company with a clearer idea on how to develop the project.
Key Information
The company stated in the news release that the project had been structured in a way so as to be highly scalable and that there was considerable scope for expansion following the 10-year plan. In the first phase, the project would be involved in processing 500,000 tons of ore a year, and that would yield 50000 tons of copper concentrate.
Financial Budget
HIRU Corporation stated that the pre-production capital that would be needed for the Balfour Copper Project would be $78 million. The total was broken down by site infrastructure work for $18 million, water management for $5 million, processing facilities for $20 million, open pit development for 15 million, OPEX for the first six months for $18 million, and contingency funds for $18 million. The contingency fund had been allocated for covering any possible delays in sales of copper in the initial phase.
Technicals
| +/- EMA(20) | 0.003 (-6.67%) |
| +/- SMA(50) | 0.0029 (-3.45%) |
| +/- SMA(200) | 0.0014 (+100.00%) |
| 5-Day Perf. | -6.67% |
| 1-Month Perf. | -9.68% |
| 3-Month Perf. | +366.67% |
| 6-Month Perf. | +300% |
| YTD Perf. | +250% |
| 1-Year Perf. | +211.11% |
| RSI(14) | 46.09 |
| ATR(14) | – |
| ADX(14) | 13.07 |
| Beta (5Y) | 0.28 |