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Big River Gold Ltd.
Summary
| Project: | Borborema | |
|---|---|---|
| Deposit: | Borborema | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 12/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-12-2019: Big River Gold Ltd. announces a Feasibility Study report for its Borborema deposit at the Borborema project. Amended Feasibility study results incl. post-tax NPV (8%) of US$203M, IRR of 41.8%. Big River Gold Ltd (ASX: BRV) (Company or Big Rive | |
| Resources: | (Reserve, P+P): 20.0Mt @ 1.22g/t Au total in-pit reserve | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Big River Gold Ltd (ASX: BRV) (Company or Big River) wishes to advise that the Definitive Feasibility Study (DFS) on the development of a 2.0 Mtpa operation at the Borborema Project located in north eastern Brazil has been completed by managing engineers, Wave International Ltd. Borborema is 100% owned by Big River through its wholly owned subsidiary Cascar Mineração Ltda (Cascar). This announcement provides replaces the announcement made to the ASX on 19 December 2019 to provide supplementary information on the scheduling of a portion of the Mineral Reserves for mining as part of the Stage 1 production schedule studied in the DFS. The DFS has confirmed the viability and economic robustness of Borborema and was completed within the accuracy of 10-15% required by international best practice. It comprises a conservative, detailed study of a standalone gold project and estimates a post-tax NPV of US$203M (discounted at 8% pa) and an IRR of 41.8%. The estimated project capital cost is US$87.97M plus contingency of US$11.36M (11.4%) totalling U$99.3M which compares favourably to the review announced in February 2018 of US$93.4M excluding contingency3 . Average C1 operating costs over the 10 year operating mine life are estimated to be US$642 per ounce compared with previously estimated US$737/oz2 and an All-In Sustaining Cost (AISC) of US$839 per ounce (US$908). The estimated production costs provide a strong margin for profitability given current and projected gold prices. | |
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