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Echo Resources Ltd.
Summary
| Project: | Yandal | |
|---|---|---|
| Deposit: | Yandal | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 6-8-2018: Echo Resources Ltd. announces a Feasibility Study report for its Yandal deposit at the Yandal project. BFS results incl. pre-tax NPV (8%) of $147M, IRR of 155%. Echo Resources Limited (ASX: EAR) (‘Echo’ or ‘the Company’) is pleased to announce t | |
| Resources: | (Reserve, P+P): 14.9Mt @ 1.7g/t Au | |
| CP/QP: | [Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | Echo Resources Limited (ASX: EAR) (‘Echo’ or ‘the Company’) is pleased to announce the completion of the Yandal Gold Project Bankable Feasibility Study (‘BFS’, ‘the Study’) and its approval by the Echo Board of Directors. The BFS contemplates a two-stage project (Stage 1 ~ 3¾ years; Stage 1+2 ~ 8½ years). The Echo Board has conditionally approved the development of Stage 1, subject to obtaining a suitable financing solution and all required statutory approvals. The BFS incorporates the mining of ore from the Orelia and Julius gold deposits and processing undertaken at the refurbished Bronzewing process plant based upon an annual throughput of 1.8 million tonnes. The Study includes an updated JORC (2012) compliant Ore Reserve for the Orelia gold deposit following the recently announced revised Mineral Resource estimate for that deposit (refer to ASX Announcement dated 16 June 2018). Echo’s Managing Director & CEO, Simon Coxhell, said, “It is with great pleasure that I present, on behalf of the Echo Board and management, the Yandal Gold Project Bankable Feasibility Study. It was only two years ago that Echo posted a maiden resource. Today we have over 800,000 ounces in Ore Reserves, along with a rapid route to monetise our mineral assets via the refurbishment of the Bronzewing processing plant. “We have completed what we consider to be a detailed, comprehensive and robust study with major cost centres supported by detailed tender or quotes. We have been systematic in our approach and we are confident that this will bode well for Echo’s success in the future.” | |
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