Highlights of the Feasibility Study are as follows:
- The Feasibility Study was compiled by a consortium of prominent industry consultants with Tecnomin Projetos e Consultoria Ltda. ("Tecnomin") as the lead consultant, NCL Brasil Ltda. ("NCL") and Golder Associates Brasil Consultoria e Projetos Ltda. ("Golder") as memebers of the consortium
- Proven and probable open-pit reserves of 20.9 million tonnes at 1.24 g/t Au for 830,200 ounces of gold (based on a US$950 per ounce gold pit-shell).
- Global measured plus indicated mineral resource of 936,600 ounces (inclusive of mineral reserves) and 587,300 ounces in the inferred category
|
Mine Type |
Open-Pit |
|
Open-Pit Ore Mining Rate
Average Ore Processing Rate |
7,000 tpd
2.55 M t/yr |
|
Operational Strip Ratio |
7.4:1 |
|
Reserve |
20.9 MM tonnes @ 1.24 g/t Au |
| Total Contained Gold |
830,200 oz |
|
Recovery |
90% |
|
Average Annual Gold Production
(1st three years) |
93,400 oz Au
100,00 oz Au |
|
Total Recoverable Gold Production |
747,031 oz |
|
Initial Mine Life |
8 years |
|
Operating Cost (Avg. LOM) |
US$20.0/t |
|
Royalty |
2% |
|
Effective Tax Rate |
15.25% |
|
Refining / Transport / Insurance Cost |
US $13/oz Au |
|
Total Cash Cost |
US $558/oz Au |
|
Initial Capital |
US $160.3 MM |
|
Total Capital Cost (sustaining capital, contingency, owners cost) |
US $188.7 MM |
|
NPV 5% (after tax, at US $1,250/oz Au) |
US $172 MM |
|
Payback Period (at US $1,250/oz Au) |
3.0 years |
|
IRR (after tax, at US $1,250/oz Au) |
27.6% |
| EBITDA |
US$61 MM per year |