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Miraflores gold project, Colombia

17th November 2017

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Miraflores gold project.

Location
Colombia.

Client
Metminco.

Project Description
A feasibility study has confirmed the Miraflores project as financially robust and technically sound.

The project has a maiden ore reserve of 2.99-million tonnes grading 4.35 g/t gold and 3.08 g/t silver. Average yearly production of 45 000 oz of gold and 22 600 oz of silver over 9.5 years is forecast.

The Miraflores feasibility study has not considered any upside that may result from exploration at the nearby Chuscal and Tesorito prospects, where the focus is on defining more resources in high-grade vein systems that could also be mined using underground methods.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at an 8% discount rate, of $72.3-million and an internal rate of return of 25%.

Value
Capital costs have been estimated at $71.8-million.

Duration
Not stated.

Latest Developments
With the positive feasibility study, Metminco now intends to focus on arranging the required finance and securing the outstanding approvals to decide on the project’s development.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Metminco, tel +61 2 9460 1856; fax +61 2 9460 1857 or email info@metminco.com.au.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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