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PERTH (miningweekly.com) – The board of ASX-listed Mincor has approved the A$2.2-million development of the Widgiemooltha gold project, in Western Australia, following the completion of an enhanced feasibility study.
The project is expected to recover 71 700 oz of gold over an initial two-and-a-half-year mine life, with C1 cash costs of A$981/oz and an all-in sustaining cost of A$1 133/oz.
“The project has a very low upfront capital requirement and can be funded from existing cash reserves,” Mincor MD Peter Muccilli said on Friday.
“With start-up reserves of 77 000 oz, the Widgiemooltha gold project is expected to generate cash flow for the company for the next two-and-a-half years, with potential to extend mine life through further exploration success.”
Mining activities are scheduled to start this month, with Mincor having executed a toll treatment agreement with a subsidiary of fellow-listed Westgold Resources to process the ore at the Higginsville gold processing plant for a 12-month period, starting in July.