RE: 1.3 moz fully funded21 Jul 2020 09:12
Mine life of 25 years, with mining and processing planned to take place at 250,000 tons per month for the first 36 months, building to a production capacity of 500,000 tons per month and 35,000 ounces of gold production per annum.
Overall production estimated at 661,171 ounces of gold over 25 years generating revenue of ZAR16.86 billion (c. US$991.7million).
Timeline to first production still achievable within 18 months.
A total of 18 months was allowed in the Study to complete the drilling, Mineral Resource updates, Feasibility Study as well as plant and infrastructure designs, manufacturing and construction before production ramp up to 250,000 tons per month.
Project Capital Expenditure
Total project capital costs of US$110m across the Project, with a peak funding requirement of US$36.4million and a payback period of 5.3 years from the start of production.
Further feasibility work is required to complete trade-offs to determine the optimal processing and mining method. The optimum option would then require more detailed designs and capital costing. This would be completed as part of a Definitive Feasibility Study.
Potential Mineral Resource
Based on the current data available, Minxcon has estimated the potential Mineral Resource at the Project which is used in the Study to be 1,290,000 ounces of gold with 277,000 ounces in the Measured and Indicated categories and 1,013,000 ounces in the Inferred category.
Minxcon has restated the Mineral Resource based on the findings of the review in terms of the volume reconciliation, estimation or declared grade reconciliation with average grade of the dataset; and Mineral Resource categories based on drill hole spacing, estimation ranges and data quality. This Potential Mineral Resource is stated at a zero-cut-off grade. This Mineral Resource is Minxcon's view of what the Mineral Resource may be if the Tailing Storage Facilities ('TSF') are re-estimated under latest JORC standards and requirements.
Facts speak for themselves. All in sustaining costs sub $800per oz, gold breaking $1820. Universal sentiment at the moment is that gold is going to continue to rise.
What happens when someone say what actual resources can you back your currency with, because China Russian and Australia dicide to trade in gold instead of usd because they keep printing more