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 |
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