Woodlark economics improved
PERTH (miningweekly.com) – ASX-listed Geopacific Resources has updated the economics of its planned Woodlark gold project, in Papua New Guinea, as it brings the project into execution readiness.
An execution update has increased the project’s projected net present value from the A$197-million projected in the 2018 definitive feasibility study, to A$347-million, and increased the targeted internal rate of return from 29% to 34%.
Expected free cash flow from the project has also increased from the A$344-million estimated in the study, to A$575-million, while the pay-back period has reduced from 2.2 years to 1.8 years.
Geopacific on Monday said that the execution update had forecast average all-in sustaining costs of A$1 239/oz over the 13-year mine life, with the one-million-ounce reserve underpinning an openpit mine plan with a 2.4-million-tonne-a-year carbon-in-leach process plant.
The project is expected to produce 980 000 oz over its mine life.
“With the release of the execution update, Geopacific marks the next step in the development of the Woodlark gold project. The report is the culmination of the substantial body of work that has been undertaken over the last two years to de-risk the construction phase and enhance the performance once in operation,” said CEO Tim Richards.
“The Woodlark gold project is now truly construction ready, with permits in place, a preferred financier appointed, and engineering and site pre-work well advanced.”
Geopacific is targeting first gold production in the fourth quarter of 2022.
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
ALBIS FLANGES — founded in 1965 — is a petro-chemical approved manufacturer of flanges and fittings in most grades of steel, listed with Sasol,...
VISIT SHOWROOM
Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...
VISIT SHOWROOM
Press Office
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
