Manas reviews Shambesai economics
PERTH (miningweekly.com) – Gold developer Manas Resources was expecting a greater output at its Shambesai gold project, in the Kyrgyz Republic.
The ASX-listed junior on Wednesday updated the economic parameters of the proposed project, to include work carried out at the project area since the 2013 bankable feasibility study (BFS), and to reflect the reduced gold price environment.
Based on the current resource, the project was now expected to deliver 241 000 oz of gold over a four-and-a-half year mine life, as opposed to the previous production estimate of 227 000 oz over the same period.
The 2013 BFS estimated that the project would require a capital investment of some $41-million and would deliver a net cash flow of some $148-million after capital, taxes and royalties and would have a net present value (NPV) of some $105-million and an internal rate of return (IRR) of 67%.
While the preproduction capital expenditure estimate had remained unchanged at $41-million, a review of the project parameters projected a net cash flow of $138-million after capital, taxes and royalties, with the project expected to have a NPV of $103-million and an IRR of 106%.
The project, with a throughput of 550 000 t/y would produce an average of 55 000 oz of gold a year, assuming treatment of all oxide and sulpide ore reserves falling within the design pit.
The project currently has a total reserve of 2.37-million tonnes, grading 3.7 g/t gold for 279 000 oz of gold.
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