Guyana Goldfields announces Guyana Aurora Gold Project Feasibility Study
by Ted Niles
Friday, February 24th, 2012 at 7:04 am.
Source - Resource Clips
Guyana Goldfields Inc TSX:GUY announced a positive feasibility study for its Aurora gold project in Guyana, South America. At a base case gold price of $1,300 per ounce and with proven and probable reserves of 4.6 million ounces gold, Aurora is projected to have a 22-year mine life, at an average cash operating cost of $522 per ounce (pre-royalty).
Total gold production is estimated at 4.36 million ounces with average per-year production of 256,800 ounces for the first 10 years.
The project has a pre-tax net present value of $644 million at a 5% discount rate generating an internal rate of return of 14.9% and a 6.9-year payback period. Initial capital costs are estimated at $525 million.
A conference call will be held February 24 by Guyana Goldfields management at 11:00 AM EST to discuss the results. The Aurora gold project is presently the only large-scale licensed gold mine development project in Guyana.
View Company Profile
Contact:
Claude Lemasson
President/COO
416.628.5936
or Jacqueline Wagenaar
VP Corporate Communications
416.628.5936
by Ted Niles
This article was posted by Ted Niles - Resource Clips on Friday, February 24th, 2012 at 7:04 am.
by Ted Niles
Friday, February 24th, 2012 at 7:04 am.
Source - Resource Clips
Guyana Goldfields Inc TSX:GUY announced a positive feasibility study for its Aurora gold project in Guyana, South America. At a base case gold price of $1,300 per ounce and with proven and probable reserves of 4.6 million ounces gold, Aurora is projected to have a 22-year mine life, at an average cash operating cost of $522 per ounce (pre-royalty).
Total gold production is estimated at 4.36 million ounces with average per-year production of 256,800 ounces for the first 10 years.
The project has a pre-tax net present value of $644 million at a 5% discount rate generating an internal rate of return of 14.9% and a 6.9-year payback period. Initial capital costs are estimated at $525 million.
A conference call will be held February 24 by Guyana Goldfields management at 11:00 AM EST to discuss the results. The Aurora gold project is presently the only large-scale licensed gold mine development project in Guyana.
View Company Profile
Contact:
Claude Lemasson
President/COO
416.628.5936
or Jacqueline Wagenaar
VP Corporate Communications
416.628.5936
by Ted Niles
This article was posted by Ted Niles - Resource Clips on Friday, February 24th, 2012 at 7:04 am.