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Big River Gold Ltd.
Summary
| Project: | Borborema | |
|---|---|---|
| Deposit: | Borborema | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 7/9/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 9-7-2020: Big River Gold Ltd. announces a Feasibility Study report for its Borborema deposit at the Borborema project. Updated Feasibility Study results incl. post-tax NPV (8%) of US$287M & IRR of 57.9%. Big River Gold Ltd (ASX: BRV) (Company or Big River | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report] n/a (n/a) | |
| ABSTRACT: | Big River Gold Ltd (ASX: BRV) (Company or Big River) is pleased to advise shareholders that the review of the Definitive Feasibility Study (DFS)1 forthe Borborema Project released in December 2019 was completed as scheduled in June. It resulted in changes to the process design that further de-risks the operation and provided substantial improvement to the project economics. Start-up capital costs of the 2Mtpa Project were reduced to US$90.7M which includes contingency of US$11.33M and the average All In Sustaining Cost (AISC) has seen a significant reduction to US$713 per ounce gold over the 10.2 years of production scheduled for Stage 1. Stage 1 is expected to produce 729,400 oz gold over 10.2 years which comprises only a portion of the Borborema Resource/Reserves of 2.43Moz and 1.61Moz respectively. Refer to ASX announcements of 23 December, 2019 and 6 March, 2018 for more details on reserves and resources. The pre tax Project NPV (at 8% discount) increased from US$218M to US$342M (A$496M) 2 while the after tax NPV (at 8% discount) increased to US$287M (A$416M). | |
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