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Vango Mining Ltd.
Summary
| Project: | Plutonic Dome | |
|---|---|---|
| Deposit: | K2 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 14-2-2017: Vango Mining Ltd. announces a Feasibility Study report for its K2 deposit at the Plutonic Dome project. Updated Feasibility Study results incl. pre-tax NPV (8%) of AUS$19.02M, IRR of 382.07% . Gold exploration and development company Vango Mini | |
| Resources: | (Reserve, Prob.): 150kt @ 7.0g/t Au for 34000oz Au contained at K2 Underground | |
| CP/QP: | [Resources]: Jonathon King (Geonomics Australia Pty Ltd.) | |
| ABSTRACT: | Gold exploration and development company Vango Mining Limited (ASX: VAN) (Vango, the Company) is pleased to announce positive results from a recently completed upgraded Definitive Feasibility Study (DFS) on its K2 Deposit within the wider 100%-owned Plutonic Dome Gold Project, in the Mid West region of Western Australia. The upgraded DFS updates commodity prices and exchange rates from a previous DFS update (ASX announcement 8 October 2014) to current values, as at February 2017, as well as mining costs. The original DFS was released 1 July 2014. All other components of the DFS remain unchanged from the previous DFS update of October 2014. This DFS upgrade is intended to be read in conjunction with the 2014 DFS and 2014 DFS Update. The K2 DFS assessed the economic viability of underground mining methods to extract ore from the K2 Deposit with toll treatment of ore at the nearby Plutonic Processing Plant, which is owned by Billabong Gold Pty Ltd (Billabong). Vango has a binding Ore Treatment Agreement with Billabong to facilitate the processing of ore from K2 (ASX announcement 24 September 2014). The DFS, DFS 2014 update and this upgraded DFS were undertaken by leading engineering and services group, Entech Pty Ltd (Entech), with input from various industry consultants. The DFS has been evaluated at project level and does not consider ownership structures between Vango and external parties. All currency values are in Australian dollars unless specified otherwise. | |
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