Under a deal with
Proven and probable reserves total 44.5 million tonnes grading 1.06 grams gold per tonne, equivalent to 1.5 million oz. gold, with a geological resource of 59.2 million tonnes averaging 1.02 grams gold. Mineralization is hosted in a 10-to-80-metre-thick, east-westerly striking shear zone.
Cash costs are projected at US$223 per oz., with total production costs reaching US$338 per oz. Assuming a gold price of US$375, the payback period will be 84 months; the internal rate-of-return, 8%. A feasibility study and an environmental impact statement are completed, and, provided all permits are secured, production could begin in 12-13 months. The construction cost is pegged at US$92 million.
Viceroy says it will green-light the project once gold prices rise to satisfactory levels.
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