Terramin's Bird-in-Hand plumps its feathers
PERTH (miningweekly.com) – A scoping study for ASX-listed Terramin Australia’s recently acquired Bird-in-Hand gold project has revealed that the project could deliver about 200 000 oz over a four-year period.
Using the updated mineral resource estimate of 557 000 t, grading 13 g/t gold, the project was expected to produce 50 081 oz/y. It was also expected that the mine life could be increased through additional exploration.
Start up capital for the project has been estimated at A$25.6-million, including for an initial underground development, with the total life-of-mine capital cost estimated at A$57.7-million.
Operating costs have been estimated at $641/oz.
The project was expected to generate some A$90.5-million in after-tax cash flow, based on a gold price of $1 400/oz.
“We are very pleased with the results of the scoping study for Bird-in-Hand, which clearly demonstrate that we have a strong project with an enviable value proposition,” said Terramin CEO Martin Janes.
“We have a high-grade deposit amenable to our core skillset of underground mining, a low start-up capital requirement owing to our existing site and processing facilities, a history of being able to turn projects into operating assets, and a positive track record in community and regulator engagement.”
Janes pointed out that additionally, Terramin also had further opportunities to increase the project value with more exploration work.
Terramin would now start work on a prefeasibility study for the Bird-in-Hand project, with activities including technical and environmental studies as well as resource drilling.
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