Catalyst's Trident proves up
PERTH (miningweekly.com) – A scoping study into the Trident underground deposit, in Western Australia, has estimated that the project will require a capital investment of A$36-million to produce an estimated 230 000 oz of gold over an initial four-and-a-half-year mine life.
At an assumed gold price of A$2 700/oz, the Trident project would have a net present value of A$246-million and an internal rate of return of 132%, said ASX-listed Catalyst Metals on Wednesday.
Free cash flow over the initial mine life has been estimated at A$296-million.
All-in sustaining costs for the project have been estimated at A$1 046/oz, while C1 costs are estimated at A$817/oz, based on yearly gold production of 57 005 oz/y.
“The potential of Trident has long been understood. Trident is a high-grade resource but has historically lacked access to processing infrastructure. The consolidation of the Plutonic Gold Belt by Catalyst has allowed for the potential of Trident to be realised,” said Catalyst MD and CEO James Champion de Crespingny.
“What’s most exciting about Trident is the significant value that can be created from incremental gains to the mining inventory. Trident Resource is 400 000 oz. Yet the scoping study only contains mining inventory of 230 000 oz. With the deposit remaining open in all directions, and all processing and haulage infrastructure in place, there is an opportunity to significantly increase the value of the project for a very low cost.”
A definitive feasibility study has now started, which is targeted for completion in the second half of this year. Regulatory approvals, licensing and construction are targeted for the 2024 calendar year, with first ore from Trident currently targeted for the fourth quarter of next year.
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