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Waihi gold project – Martha underground operation, New Zealand

4th June 2021

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Waihi gold project – Martha underground (MUG) operation.

Location
North Island of New Zealand.

Project Owner/s
OceanaGold.

Project Description
The project has initial mineral reserves of about 4.5-million tonnes grading 4.33 g/t for 620 000 oz gold, supporting a mine life of eight years.

A feasibility study on the MUG operation has proposed that the project be accessed through the existing Favona portal through the existing Trio and Correnso workings.

The project will share the ventilation development and shafts, as well as the Correnso workshop, Trio cribroom and dewatering systems.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The feasibility study estimates that the project will have a pretax net present value of $143-million and an internal rate of return of 47%, with a pay-back period of nearly four years.

Capital Expenditure
More than $60-million will be spent at the MUG in 2021 and about $40-million in 2022.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
OceanaGold, tel +61 3 9656 5300 or email info@oceanagold.com.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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