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Capricorn Metals Ltd.
Summary
| Project: | Karlawinda | |
|---|---|---|
| Deposit: | Karlawinda | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-10-2017: Capricorn Metals Ltd. announces a Feasibility Study report for its Karlawinda deposit at the Karlawinda project. Feasibility study results incl. NPV (8%) AU$144M, IRR 31% pre-tax. Capricorn Metals Ltd (“Capricorn” or the “Company”) (ASX: CMM) | |
| Resources: | (Reserve, Prob.): 21Mt @ 1.06g/t Au for 0.713Moz Au contained at Karlawinda | |
| CP/QP: | [Overall Report]: Michael Martin, Peter Langworthy (Internal) | |
| ABSTRACT: | Capricorn Metals Ltd (“Capricorn” or the “Company”) (ASX: CMM) is pleased to announce that it has completed the Feasibility Study for the 100% owned Karlawinda Gold Project, located approximately 60km south east of Newman in the Pilbara region of Western Australia. Capricorn’s Executive Chairman, Heath Hellewell, said “The release of a positive Feasibility Study confirming the potential for a robust high-margin gold project at Karlawinda is a watershed moment for our Company. This study provides us with the confidence that the Karlawinda Gold Project will become a significant new Western Australian gold mine, with a strong production profile, low forecast operating costs and the ability to generate strong financial returns over its initial 6.5 year life and beyond. With certainty now around the State Government gold royalty, and based on what are now high confidence capital and operating cost estimates, we are confident that the development of the Project will proceed, subject to financing. As our exploration programs once again ramp up, we are excited about the endowment potential of the region and the opportunities that exist within our current exploration targets. We look forward to delivering on the outstanding upside and potential for growth in our resource and reserve inventory as we continue to work towards first gold production. | |
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