RE: sp5 Aug 2020 21:33
The news came last week.. Just read the past RNS's. Gold price rising = companies like this, making a mint.
Highlights:
· Positive PEA for an open-pit oxide gold mine with strong cashflow and rapid payback
· Project economics applying a 10% discount rate and US$1,500/oz gold price:
o Pre-tax NPV of US$115 million, IRR of 728% and payback of 6.2 months
o After-tax NPV of US$81 million, IRR of 469% and payback of 6.9 months
· Project economics applying a 5% discount rate and US$1,800/oz gold price:
o Pre-tax NPV of US$167 million
o After-tax NPV of US$118 million
· Average production of 52,000oz per year with 3.25 year mine life and low strip ratio of 1:1.37
· Significant growth potential for Diba project:
o Seven further significant oxide gold targets to be systemically drill tested
o Metallurgical study to test potential for sulphide ores to be processed via CIL
· Diba is contiguous with the Sadiola mining permit at the heart of a world renowned belt