RE: Kochang video8 May 2024 12:48
Both parties realise the potential of Gubong with the Farm-Out representing a major endorsement of the Project's potential and underpins the joint belief that the relevant permits will be obtained, and that the mine has strong potential to be a bought back into production. The value of Gubong and the Kochang Gold and Silver mine, the smaller of the Company's South Korean projects, was highlighted in a Scoping Study, which included a post-tax NPV of US$181 million, free cash of US$50 million per annum, an IRR of 111% and a US$630 per oz All in Sustaining Cost ("AISC"). The study was conducted on a USS1,750 per oz Au price compared to the current price of c.US$2,300 per oz.