For thousands of other reports visit RSC's Mineral Intellingence Map
Ora Gold Ltd.
Summary
| Project: | Garden Gully | |
|---|---|---|
| Deposit: | Crown Prince | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-12-2019: Ora Gold Ltd. announces a Scoping Study report for its Crown Prince deposit at the Garden Gully project. Scoping study results from Crown Prince. Ora Gold Limited (ASX: OAU)(Ora Gold) is pleased to announce that its Scoping Study of an open pi | |
| Resources: | (Resource, I+I): 0.479Mt @ 3.6g/t Au for 55Koz Au contained at Crown Prince | |
| CP/QP: | [Overall Report]: Philip Mattinson, Costica Vieru, Philip Bruce, Brian Fitzpatrick (Not stated;Internal;Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Ora Gold Limited (ASX: OAU)(Ora Gold) is pleased to announce that its Scoping Study of an open pit mine on its wholly-owned Crown Prince gold deposit near Meekatharra, Western Australia supports the project viability with a positive forecast financial outcome. The study forecasts a pre-tax financial outcome of about $21.1M (+/-30%), which is the 100% site surplus after direct costs of pre-development, mine establishment, operating, sustaining capital and mine closure and the payment of state and private royalties. The estimate basis is of a small mine and a large offsite processing plant and does not include any cost or revenue sharing arrangement. Ora Gold has sufficient accrued tax losses to offset all income tax liabilities for the proposed project. The Board has a reasonable expectation that the estimated project funding of ~$4.7 million including project working capital, will be fully funded through a combination of equity, loan and project participation. Note that Ora Gold’s share of the forecast financial outcome and Production Target estimates is likely to be reduced by funding and/or the offsite ore processing arrangements. Subject to additional studies, the negotiation of offsite processing arrangements, Ora Gold Board approvals, financing, submission and approval of a Mining Proposal, the timing to achieve relevant permits and agreements and the pre-development requirements for the project, the mine is proposed to be established and mined over a 15-18 month timeframe. Mining may proceed to an underground operation, depending on deep drilling and further evaluation. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report