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Timmins Gold Corp.
Summary
| Project: | Ana Paulo | |
|---|---|---|
| Deposit: | Ana Paulo | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 11/28/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 28-11-2016: Timmins Gold Corp. announces a PEA report for its Ana Paulo deposit at the Ana Paulo project. Amended PEA results incl. post-tax NPV (5%) of $248M, IRR of 43%, 2.1 year payback. JDS Energy & Mining Inc. (JDS) was commissioned by Timmins Gold C | |
| Resources: | (Resource, M+I): 41.010Mt @ 1.469g/t Au, 5.37g/t Ag (1.469g/t AuEq.) | |
| CP/QP: | [Resources]: H. E. Welhener, P. Craig Gibson (IMC Mining Pty Ltd.;ProDeMin) | |
| ABSTRACT: | JDS Energy & Mining Inc. (JDS) was commissioned by Timmins Gold Corp. (Timmins) to update a preliminary economic assessment (PEA) pursuant to Canadian Securities Administrators’ National Instrument 43-101 and Form 43-101F1 standards (collectively, “NI 43-101”) of the Ana Paula Project (Ana Paula or Project) which is a gold resource development project located in Guerrero State, Mexico. The Project encloses several gold occurrences within an exploration concession covering an area of more than 600 km2. This update to the PEA includes the use of El Sauzal equipment for the process plant at Ana Paula. The effect of this is a significant reduction in project capital. The acquisition cost, dismantling, and transportation costs spent through 2015, are now sunk costs and are so treated in this report. The remaining costs for dismantling, transportation, storage, purchase of additional equipment, engineering, and on-site construction are included in this report. This PEA is presenting the same data as the initial PEA except for the inclusion of a process plant acquired by Timmins in 2015, reduction of the gold price to current levels, and updates to foreign exchange rates, major commodity prices, and minor adjustments to labor burden rates to make them consistent. The inclusion of the process plant acquisition warranted an update to the financial model. It must be noted that this preliminary economic assessment is preliminary in nature and includes the use of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. | |
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