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Kin Mining NL
Summary
| Project: | Leonora | |
|---|---|---|
| Deposit: | Leonora | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/15/2016 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 15-12-2016: Kin Mining NL announces a Pre-Feasibility Study report for its Leonora deposit at the Leonora project. PFS results incl. pre-tax NPV (8%) of A$71%, IRR of 58%. Kin Mining NL (ASX: KIN) is pleased to advise that the Pre-Feasibility Study (PFS) | |
| Resources: | (Resource, I+I): 11.83Mt @ 1.9g/t Au for 721Koz Au contained at project | |
| CP/QP: | [Overall Report]: Don Harper (Internal) | |
| ABSTRACT: | Kin Mining NL (ASX: KIN) is pleased to advise that the Pre-Feasibility Study (PFS) on its 100%-owned Leonora Gold Project (LGP) in WA has delivered outstanding results, demonstrating that the project has the potential to generate strong cash-flows underpinned by low capital and operating costs, robust margins and a short payback period. Over recent months, with the support of independent consultants, Kin has updated costs and produced a new mining and processing strategy based upon the 2009 PFS completed by Navigator Resources (refer to ASX announcement 25 March 2009), to determine the most profitable path to gold production. A heap leach/ carbon-in-leach (CIL) combination and a 100% CIL processing option were evaluated. Following an optimisation process, it was determined the lowest risk pathway to developing the LGP was to adopt the processing route of a new conventional 750,000tpa CIL processing plant for the first two years, before ramping up in Year 3 to approximately 1.2 Mtpa through a modest mill expansion. The PFS concludes that the LGP is technically viable and economically robust, with a forecast production profile from open pit sources commencing at the rate of 43,000 oz Au per annum, and rising to 52,000 oz Au per annum by Year 3. Life-of-mine all-in sustaining costs (AISC) are forecast to be A$1,084/oz. Capital costs are estimated to be approximately A$35 million, with a capital payback period of approximately 18 months. | |
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