Chile project a golden opportunity for Kingsgate
PERTH (miningweekly.com) – A prefeasibility study (PFS) into the Nueva Esperanza gold project, in Chile, has indicated that the project could deliver an average 91 000 oz of gold equivalent ounces, over a mine life of nearly 12 years.
Gold miner Kingsgate Consolidated noted that mine plan optimisation meant that the project could deliver an average of 135 000 oz/y of gold equivalent over the first five years of operation, delivering a three-year payback period.
The project would likely require a capital investment of some $206-million, with operating costs estimated at around $16/t.
The PFS estimated that the Nueva Esperanza project would have a net present value of $168-million and an internal rate of return of 25%, based on a resource estimate of 1.9-million ounces.
“We are delighted with the study outcomes which confirm Nueva Esperanza as one of the exciting emerging precious metals projects in South America,” said Kingsgate CEO Greg Foulis.
“The PFS reinforces the growth strategy for Kingsgate following the divestment of Challenger and Bowdens. The proposed development of Nueva Esperanza, subject to financing and approvals, provides Kingsgate with a solid platform for growth in Chile and other areas of South America.”
Foulis noted that Kingsgate was confident that further exploration success would continue to build the metals inventory of the project, leading to a long-life operation.
“Following these positive results, we are aiming to complete permitting and a feasibility study in 2017, which will allow us to make an investment decision thereafter.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
