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Kinross Gold Corp.
Summary
| Project: | Tasiast | |
|---|---|---|
| Deposit: | Tasiast | |
| Location: | Mauritania | |
| Commodities: | Gold | |
| Date: | 9/16/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-9-2019: Kinross Gold Corp. announces a Feasibility Study report for its Tasiast deposit at the Tasiast project. Tasiast 24k feasibility study results incl. NPV of $1.7B, IRR of 60%. TORONTO, Sept. 15, 2019 -- Kinross Gold Corporation (TSX:K; NYSE: KGC) | |
| Resources: | (Reserve, P+P): 120.838Mt @ 1.9g/t Au | |
| CP/QP: | [Resources]: John Sims (Internal) | |
| ABSTRACT: | TORONTO, Sept. 15, 2019 -- Kinross Gold Corporation (TSX:K; NYSE: KGC) (“Kinross”) today announced that it is proceeding with a project to incrementally increase throughput capacity at its Tasiast mine to 24,000 tonnes per day (t/d). Based on the results of the completed “Tasiast 24k” feasibility study, the project is expected to increase production, reduce costs, and generate significant cash flow and attractive returns at an initial capital cost estimate of $150 million. J. Paul Rollinson, President and CEO, made the following comments in relation to the Tasiast 24k project: “We are excited to be moving ahead with the value-enhancing Tasiast 24k project. The project allows us to further unlock Tasiast’s substantial value through a capital efficient, low-risk investment which maximizes the mine’s potential through continuous improvement and leverages the knowledge we have gained from running the successful Tasiast Phase One expansion. The 24k project is expected to increase production and lower costs while generating attractive returns and significant free cash flow. “We are well positioned to successfully execute the Tasiast 24k project. We have strong liquidity, the $300 million project financing is proceeding as planned, the expanded Tasiast operation continues to consistently outperform initial expectations, and permits for the project are in place. The Tasiast 24k project further strengthens our development pipeline, adding to our high-quality projects in the U.S., Chile and Russia.” | |
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