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Ora Banda Mining Ltd.
Summary
| Project: | Davyhurst | |
|---|---|---|
| Deposit: | Davyhurst | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/30/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 30-6-2020: Ora Banda Mining Ltd. announces a Feasibility Study report for its Davyhurst deposit at the Davyhurst project. DFS results incl. post-tax NPV (6%) of A$137.4M & IRR of 109.3%. Underpinned by pre-existing infrastructure, including a conventional | |
| Resources: | (Resources, M+I+I): 11.871Mt @ 3.1g/t Au (1.198Moz Au) | |
| CP/QP: | [Overall Report] Not stated (Not stated) | |
| ABSTRACT: | Underpinned by pre-existing infrastructure, including a conventional CIP process plant, the DFS confirms that Ora Banda can undertake a rapid and low-capital path to achieving sustainable gold production at Davyhurst. Ore will be delivered to the process plant from a combination of open pit and underground mines all located within a 50km radius. The study demonstrates that the Project is expected to generate strong cash flows and financial returns over a 5.2-year mine life, with average estimated pre-tax annual free cash flows of A$33.6M (A$68.8M at A$2,550/oz), following a 7 to 14 month payback period, further leveraged by carried forward tax-losses of A$258M (as at 30 June 2019). Development activities will start immediately and will focus on the final piece of refurbishment of the Davyhurst plant together with early works for mine development at both Riverina open pit and Golden Eagle underground mines. Plant commissioning is expected to commence in Q4, CY20 with first gold pour targeted for Q1, CY21. | |
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