Sihayo to cost $58.7m
PERTH (miningweekly.com) – An updated feasibility study (FS) into the Sihayo gold project, in Indonesia, has increased the expected capital cost from the $58.7-million estimated in the start of 2014, to $153-million.
However, with an increase in the mineral resource estimate, the project is now expected to recover some 683 000 oz over a seven-and-a-half-year mine life, compared with the 427 000 oz projected in the 2014 FS.
The updated FS was based on a processing rate of between 1.5-million tonnes and 2-million tonnes a year, delivering some 91 000 oz/y of gold over the life-of-mine, ASX-listed Sihayo Gold said on Monday.
This compared with a processing rate of 750 000 t/y to deliver 43 000 oz/y considered in the original FS.
The updated FS has estimated a post-tax, post royalty net present value of $111-million.
The updated study was based on a mineral resource estimate of 1.6-million ounces, and a mining reserve of 761 000 oz.
Sihayo told shareholders on Monday that the company will now work with its major shareholders to determine options to finance the project, while approaches will also be made to potential sources of project financing.
The company will also submit amendments to the existing approved feasibility study and the environmental permit, and will continue to look for ways to optimise the Sihayo gold project.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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