Scoping Study

The Scoping Study outlines a base case for a 1.25 Mtpa mining operation capable of producing over 350Koz over an initial 7-year mine life with an attractive payback period of less than two and half years. Positive financial metrics IRR of 28% and NPV A$77M with a Net Cashflow A$136M using a gold price of $2,000 Australian dollars.

Scoping Study has shown a pathway to development and highlighted further gains from current work programs including: 

  • Targeted drilling adding mineable ounces beyond current pit shells
  • Assessing Underground Potential of high-grade gold mineralisation
  • Metallurgical test work to optimise the current gold recovery estimates, throughput and plant performance and reduce operating costs
  • Increased Australian dollar gold price, currently plus A$2,600 study completed using A$2,000 per ounce.
  • Revised Resource planned Q4 2020
  • Assessing Underground Potential of high-grade gold mineralisation
  • Metallurgical test work to optimise the current gold recovery estimates, throughput and plant performance and reduce operating costs.

Australian gold price has increased significantly since study.

Figure 1 : NPV Sensitivity Analysis
Figure 1 : NPV Sensitivity Analysis

Figure 2 - Project layout showing the location of infrastructure and Resource categories
Figure 2 - Project layout showing the location of infrastructure and Resource categories

To view the full Scoping Study, see ASX announcement 1 November 2019.

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