For thousands of other reports visit RSC's Mineral Intellingence Map
Primary Gold Ltd.
Summary
| Project: | Coolgardie | |
|---|---|---|
| Deposit: | Coolgardie | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-10-2017: Primary Gold Ltd. announces a Pre-Feasibility Study report for its Coolgardie deposit at the Coolgardie project. Pre feasibility study results NPV (8%) $14.8M, Initial ore reserve. Primary Gold Limited (ASX: PGO) (Primary or the Company) is pl | |
| Resources: | (Reserve, P+P): 1.069Mt @ 1.7g/t Au for 58Koz Au contained at project | |
| CP/QP: | [Resources]: Marat Abzalov (Internal) | |
| ABSTRACT: | Primary Gold Limited (ASX: PGO) (Primary or the Company) is pleased to announce a maiden Ore Reserve estimate and that it has received positive results from its recently completed Pre-Feasibility Study (PFS) on its 100%-owned Coolgardie Gold Project (Project) in Western Australia. The study was conducted by Primary’s team working in conjunction with specialised consultants, Entech Mining Pty Ltd (Entech). The PFS confirms the viability of a low capital cost start-up gold mining operation based on the extraction of shallow reserves across three initial starter pits at the Project, with the ore to be treated via a toll-treatment arrangement at a nearby processing facility. The Company is at an advanced stage in its negotiations with the owner of the processing facility. Key PFS outcomes include a low upfront capital outlay of $850,000, of which the Company currently expects, based on negotiations with preferred mining contractor, that approximately $750,000 will be deferred by up to 3 months after production commencement. The PFS forecasts the Project to generate an undiscounted cashflow of $16.9 million at a gold price of $1,600/ounce, with a maximum cash drawdown of $100,000. The Project is forecast to recover approximately 65,000 ounces of gold over an initial mine life of 28 months with further resources on Primary’s mining leases undergoing feasibility. All site setup, infrastructure, offices, roads and mobilisation will be catered for in the mining services contract tender rates. Offices and ablutions already exist from previous operations. | |
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