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Nusantara Resources Ltd.
Summary
| Project: | Awak Mas | |
|---|---|---|
| Deposit: | Awak Mas | |
| Location: | Indonesia | |
| Commodities: | Gold-Silver | |
| Date: | 10/4/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 4-10-2018: Nusantara Resources Ltd. announces a Feasibility Study report for its Awak Mas deposit at the Awak Mas project. Feasibility Study results incl. post-tax NPV of US $152M (5%), IRR of 20.3%, 11yr LOM at project. Asia‐Pacific gold development comp | |
| Resources: | (Reserve, P+P): 26.9Mt @ 1.32g/t Au for 1.14Moz Au contained | |
| CP/QP: | [Resources]: Adrian Shepard (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Asia‐Pacific gold development company Nusantara Resources Limited (‘Nusantara’, ASX: NUS), is pleased to announce the completion of the Definitive Feasibility Study (DFS) for its 100% owned Awak Mas Gold Project (the ‘Project’) located in South Sulawesi, Indonesia. The Project is one of a few undeveloped gold projects within the Asia-Pacific and now has a completed DFS with all approvals in place for development. The project is supported by good infrastructure (Figure 1), with access to low cost grid power, port facilities 45 km from the project, and multiple daily flights from the city of Makassar. The island of Sulawesi, Indonesia, has a long history of mining and provides ready access to experienced contractors, services and work force for the construction and operation of the mine. The site operation will be supported by a logistics centre on the coast in Belopa and a support centre in the city of Makassar. “The Awak Mas Gold Project Definitive Feasibility Study has confirmed that the project is technically feasible, financially robust, with significant opportunities to increase project value through optimising the current mineral resources and through further exploration. The completion of the DFS is a significant milestone for the Company, with work now progressing on securing financing for project development and continuing exploration.”, commented Nusantara’s Managing Director and CEO, Mike Spreadborough. “The Awak Mas Gold Project, through the experience and dedication of the Nusantara team, now has the potential to be developed into Indonesia’s and Asia-Pacific’s next gold mine, providing benefits to shareholders, the community and other stakeholders.” | |
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