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Calidus Resources Ltd.
Summary
| Project: | Warrawoona | |
|---|---|---|
| Deposit: | Warrawoona | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/29/2020 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2020: Calidus Resources Ltd. announces a Pre-Feasibility Study report for its Warrawoona deposit at the Warrawoona project. Updated PFS results incl. NPV (8%) of A$303M & IRR of 77%. Calidus Resources (ASX:CAI) is pleased to announce that an updated | |
| Resources: | (Reserves, P+P): 13.609Mt @ 1.2g/t Au (519koz Au) | |
| CP/QP: | [Resource] Lynn Widenbar, Ben Playford, Jani Kalla (Internal,Optiro Pty Ltd.,Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | Calidus Resources (ASX:CAI) is pleased to announce that an updated Pre-Feasibility Study has highlighted the strong cashflow, outstanding financial returns and short payback of its Warrawoona Gold Project in WA’s Pilbara. The updated PFS includes a 24 per cent increase in Reserves to 519,000oz. This underpins forecast production averaging 85,000 ounces a year in the first six years, including 90,000oz in year one, at an average AISC of A$1251/oz. Based on a gold price of A$2500/oz, the average gold price for the last six months and $70/oz below the current spot price, Warrawoona will generate a post-tax internal rate of return of 77 per cent and have a payback period of just 13 months. Considering these strong findings and the current gold price, Calidus has committed to accelerating its development timetable, with construction planned to start in the March quarter of next year. The Definitive Feasibility Study on Warrawoona, is on track for completion in the current quarter. The Updated PFS reflects several significant changes that are aimed to minimise risk, maximise initial cash generation and ensure a simple and robust operation to maximise value to shareholders. | |
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