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Beadell Resources Ltd.
Summary
| Project: | Tucano | |
|---|---|---|
| Deposit: | Tucano | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 5/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 11-5-2017: Beadell Resources Ltd. announces a Feasibility Study report for its Tucano deposit at the Tucano project. Feasibility study results incl. post-tax NPV (5%) of $127M and IRR of 138%. Beadell Resources Limited (Beadell or Company) is pleased to p | |
| Resources: | ||
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Beadell Resources Limited (Beadell or Company) is pleased to provide results of a Feasibility Study (FS) completed on a plant upgrade project, incorporating the addition of a 6MW ball mill, a high-rate thickener, another leach tank and an oxygen sparging system (Project) at its 100% owned Tucano gold mine (Tucano) in northern Brazil. Mr Simon Jackson, CEO and Managing Director of Beadell stated, "The Feasibility Study results show that the plant upgrades will add significant value to the Tucano project. Once complete we look forward to the mine being fully optimised for the first time with resultant consistency of production and cashflows. As we continue to add mine life through our successful exploration programs, the mill upgrades are the foundation of the future for Beadell.” The FS is for the upgrade of the existing Tucano processing plant by incorporating an additional 6MW ball mill, a high-rate thickener, another leach tank and an oxygen sparging system. The throughput will be maintained at 3.6 million tonnes per annum and recoveries are projected to increase to 93% from the current budgeted recovery of 88%. The FS was based on the Ore Reserves as at 31 December 2015. On 11 April 2017, Beadell released an updated Ore Reserve statement as at 31 December 2016 that highlighted a 7% increase in ounces to 1.575 million ounces and a 9% increase in grade to 1.74 g/t gold. After depletion, the new Ore Reserves increased by 18%. The FS and life of mine plan will be updated to incorporate the new Ore Reserve and the results of this will be released to the market in due course. | |
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