Gold Road Releases Prefeasibility Study for Gruyere Project

- February 8th, 2016

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.

Find out what experts are saying about the future of cannabis

 
Read our 2019 conference report today
 

Leave a Reply