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Mincor Resources NL
Summary
| Project: | Widgiemooltha | |
|---|---|---|
| Deposit: | Widgiemooltha | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 16-3-2018: Mincor Resources NL announces a Feasibility Study report for its Widgiemooltha deposit at the Widgiemooltha project. Updated feasibility study results incl. NPV of A$27.4M (8%) and 29 month LOM. Mincor has secured approvals for its 100 per cent | |
| Resources: | (Reserve, Prob.): 0.899Mt @ 2.7g/t Au for 76.9Koz Au contained at project | |
| CP/QP: | [Resources]: Not stated (Cube Consulting) | |
| ABSTRACT: | Mincor has secured approvals for its 100 per cent-owned Widgiemooltha gold project in Western Australia, managed by Goldfields Technical Services (GTS).The announcement comes following the completion of a successful enhanced feasibility study (EFS), the outcomes of which included pre-production capital costs of $2.2 million, all-in sustaining costs of $1133/ounce (oz), and after-tax cash flow of $30.7 million (based on an average gold price of $1600/oz).Further outcomes pinned Widgiemooltha’s mine life at 29 months, with an average grade of 2.7 grams per tonne (g/t) of gold, 78,200oz overall.Peter Muccilli, managing director of Mincor, said that the project would allow Mincor to attain significant value through its choice of an experienced project manager (GTS) and its low-risk development strategy, which possesses “very low upfront capital requirement [that] can be funded from existing cash reserves.”Muccilli added that the project would also provide Mincor with a path back to short-term cash flow.“With startup gold reserves of 77,000oz, the Widgimooltha gold project is expected to generate cash-flow for the company for the next two and a half years, with potential to extend mine life through further exploration success,” he said.“Mincor’s high-quality land holdings continue to provide us with exciting opportunities for growth. | |
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