Positive PEA Results
The PEA study showed exciting results, with a $1.2 billion pretax net present value and $766 million post-tax net present value at $3,000 gold price. It forecasts a long mine life of just under 18 years with average annual production of over 60,000 ounces, peaking at over 90,000 ounces. Life-of-mine cash cost is in the lowest quartile at just over $1,000 an ounce.
Increased Grade Profile
The grade profile is now higher, refocusing the ore body on economics versus sheer ounces. This results in a higher cutoff rate in economic analysis, contributing to lower cash costs.
Operational Growth and Expansion Potential
The company has successfully expanded operations three times and plans further expansions. Current production is over 50 ounces a day and increasing. An expansion to 3,000 tonnes per day is planned, with future potential for higher throughput.
Strong Cash Flow and Profit Margins
Record gold prices and improved grade profiles are expected to boost profitability. The company has controlled operating costs and expects to benefit from economies of scale.