Australian base and precious metals explorer, Pacifico Minerals Limited (ASX: PMY) updated positive developments regarding the progress of Optimised Pre-Feasibility Study (OPFS) for its Sorby Hills Joint Venture Project.
The Company indicated that all work concerning the Resource, Mining, Metallurgy and Process Plant has been completed and final capital and operating cost estimates for non-plant infrastructure are currently being compiled.
Pacifico Minerals expects OPFS to confirm the financial and technical robustness of the Project, reinforced by detailed testwork and growing Lead and Silver demand, which remains a crucial part of the global transition to clean energy.
After the OPFS completion, Pacifico will immediately start work on the Definitive Feasibility Study, with the recommencement of delineation and resource extension drilling at Sorby Hills in Q3 2020.
PMY traded at $0.017 on 30 July 2020 (12:32 PM AEST).
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Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)