As a reminder12 Feb 2020 18:03
From February, the projects will then progress to production with initial mining commencing in 6 months and gold production some 3 months later. Both mines will continue to expand their mining area and build up inventory whilst the process plant design is completed and constructed. Estimated average cash cost per ounce (C1 level) is USD 576 per ounce. This is based on both mines over the initial 3 years. The cost of the initial production phase to the joint venture is USD 2.2 million. Bluebird is actively having discussions with regards to non-dilutive debt funding in order to fund its 50% share of the required funding. Over a 3 year period gold production will largely grow organically from 10,000 to 30,000 ounces per annum. A further USD 7 million capital will be injected during this period, however the bulk of this will be injected from cash flow from production.