Centrogold proves positive for Avanco
PERTH (miningweekly.com) – A scoping study into the Centrogold project, in Brazil, has indicated a strong potential for a high-grade, low capital mining operation, ASX-listed Avanco Copper said.
The scoping study estimated an initial mine life of 11 years, with the project producing an average of 129 900 oz/y from a throughput rate of 2.5-million tonnes a year.
The project is estimated to require a capital investment of around $108-million, and would have a pre-tax net present value of $231.6-million and an internal rate of return of 73%, with a capital pay-back period of around 24 months.
Avanco told shareholders on Tuesday that the scoping study contemplated ore extraction from three neighbouring deposits through traditional openpit operations.
Centrogold is expected to have a life-of-mine all-in sustaining cost of $862/oz, generating a net cash flow of around $445.5-million over the 11-year period.
Avanco said in a statement that the Centrogold project fitted well into the company’s business model of developing low-risk, low capital expenditure mines that capitalise on the company’s Brazilian expertise.
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