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Bird in Hand positive for Terramin

23rd June 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – A feasibility study into the Bird in Hand gold project, in South Australia, has estimated that over a mine life of four years, the project could produce an average of 11 100 t/y of concentrate containing 44 700 oz of gold and 20 600 oz of silver.

ASX-listed Terramin on Tuesday told shareholders that the feasibility study estimated that the project would require a capital investment of A$54-million, with the total life-of-mine capital estimated at A$84-million.

The feasibility study was based on a global mineral resource estimate of 650 000 t, which included an indicated resource of 432 000 t and a probable ore reserve estimate of 377 000 t.

The project would have a production rate of 150 000 t/y, and is expected to generate about 300 jobs, of which 140 will be direct employment, while contributing A$221-million to the gross state product.

The feasibility study has estimated that the Bird in Hand project would generate total revenues of A$428-million, would have a pre-tax net present value of A$147-million and an internal rate of return of 82%, and a C1 unit cost of A$272/t after silver by-product credits.

“Terramin is pleased to announce the finalization of its feasibility study on the high-grade, low cost Bird in Hand gold project,” the company said in a statement.

“Terramin has updated the feasibility study to capture the benefit of the current price and costing information as it awaits a final approval by the South Australian government for its mining lease application and miscellaneous purpose leases.

“The project has benefitted from an extensive community engagement process and public consultation which were completed in 2019. The feasibility study has confirmed Terramin’s approach to delivering a low-footprint project in conformity with local land uses. The project will deliver substantial jobs and economic growth in the Adelaide Hills and more broadly in South Australia.”

Edited by Creamer Media Reporter

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