The Conversation (0)
Gold Road Resources Ltd. (ASX:GOR) released a prefeasibility study for its Western Australia-based Gruyere gold project, noting that the study shows Gruyere is “one of Australia’s best undeveloped gold deposits.”
Gold Road Resources Ltd. (ASX:GOR) released a prefeasibility study for its Western Australia-based Gruyere gold project, noting that the study shows Gruyere is “one of Australia’s best undeveloped gold deposits.”
The company plans to proceed immediately to a feasibility study.
Highlights from the prefeasibility study include:
- PFS findings indicate a technically sound and financially viable project generating in excess of A$1 billion in undiscounted free cash flow (pre‐tax) over an initial 12‐year Project life
- Development to be based on a single large open‐pit mine and conventional SAG/Ball Mill Circuit, gravity/carbon‐in‐leach plant with throughput of 7.5 Mtpa of fresh ore and up to 8.8 Mtpa of oxide ore
- Maiden Ore Reserve of 3.17 million ounces¹ , supporting average annual gold production of 265,000 ounces over life‐of‐mine
- Total forecast capital cost of A$455M², including A$35M contingency (US$335M and US$26M3 respectively)
- Estimated average all‐in sustaining cost (AISC) of A$960 (US$7004) per ounce over life‐of‐mine (LOM) with a payback of less than one third of LOM
- Gruyere Open Pit averages more than 9,000 Reserve ounces per vertical metre to a final depth of 340 metres
- Near surface gold mineralisation provides early gold production and cash flow
Click here to read the full Gold Road Resources Ltd. (ASX:GOR) press release.