Capital costs are estimated to be $300 million, including $33 million contingency, for a 13-year phase-one operation.
Operating costs are estimated at $108 per tonne, which the company said would place Bawdwin in the lowest quartile.
The company says that in steady state production, Bawdwin's starter pit would be the third largest-producing lead mine in the world, the 10th largest-producing silver mine in the world, as well as being a globally important zinc producer.
"The PFS clearly shows strong underlying project cashflows and valuation metrics for the starter pit from processing only 26% of the current total mineral resource estimate for the Bawdwin deposits.
"Beyond the starter pit, which is the sole focus of the PFS, underground mining operations and the Shan and Meingtha lodes are in scoping study phase and a number of other targets and prospects have potential to materially add mine life and value to the Bawdwin mining operation.
"Benchmarking capital costs shows that Bawdwin has one of the lowest capital intensities among comparable projects. Bawdwin is also within the lowest quartile of the zinc cost curve," the company said.
Phase 1 of mining operations at Bawdwin is a planned 13 year open-pit mining operation concentrated on the central China Lode (starter pit), to a finished floor level of 755 metres RL (220 metres below the current valley floor).
About 24.7 million tonnes of mineralised material would be processed from the planned starter pit, representing 26% of the 94.2Mt resource. Mining operation is scheduled to start in late 2021 after a 21-month construction period, the company says. "It is contemplated that underground mining operations may start around year six of the starter pit, to access mineralised material in Shan and Meingtha Lodes.
"In steady state, 2.0Mt of mineralised material will be processed per annum with average lead, silver and zinc grades of 6.4%, 168 grams per tonne and 3.2%, respectively. About 88% of the material processed in the starter pit is high grade fresh sulphide mineralisation with higher applied metallurgical recovery assumptions and concentrate grades."
The conventional differential sulphide flotation processing facility will produce two concentrate products, a high-grade lead-silver concentrate and a zinc concentrate, at an average steady state rate of 196,000tpa and 93,000tpa respectively.
"The PFS contemplates road transport of the concentrate products on existing roads from the Bawdwin processing plant, via the township of Namtu, past the city of Lashio, across the Chinese border at Ruili and on to smelters in the vicinity of Dali (a total trip of around 420km)."
The starter pit has a maiden probable ore reserve estimate of 18.4 Mt grading 6.4% lead, 169gpt silver and 3.4% zinc.
Myanmar Metals executive chairman John Lamb said Bawdwin's reserves and resources underpinned a very long life mining operation.