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Sihayo Gold Ltd.
Summary
| Project: | Sihayo | |
|---|---|---|
| Deposit: | Sihayo | |
| Location: | Indonesia | |
| Commodities: | Gold | |
| Date: | 6/23/2020 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 23-6-2020: Sihayo Gold Ltd. announces a Feasibility Study report for its Sihayo deposit at the Sihayo project. Updated Feasibilty Study results incl. post-tax NPV (5%) of US$205M & IRR of 28%. The Sihayo Gold Project (the Project) is within the SihayoPung | |
| Resources: | (Reserves, P+P): 11Mt @ 2.1g/t Au (0.75Moz Au) at Sihayo | |
| CP/QP: | [Resource] Robert Spiers (Spiers Geological Consultants Pty Ltd.) | |
| ABSTRACT: | The Sihayo Gold Project (the Project) is within the SihayoPungkut 7th Generation Contract of Work (COW) held by PT Sorikmas Mining (PTSM). PTSM is an Indonesian foreign investment company operated under a joint venture agreement between the Company (75%) and PT Aneka Tambang Tbk (Antam) (25%). The JV agreement with Antam was signed in July 1997 and states that the Company’s subsidiary Aberfolye Pungkut Investments Pte Ltd (API) will provide, by way of loans to PTSM or the Project, “all expenditure incurred or to be incurred on exploration and mining operations, with such funding obligation to continue until the date of commencement of production.” Under the agreement, all funding provided by API must be repaid from cashflows of PTSM. As at 31 December 2019 the balance of the loan is US$ 76 .million. | |
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