https://www.miningweekly.com

Talisman doubles in value

26th June 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – The value of the Talisman gold project, in New Zealand, has more than doubled with an increased resource, mine life and grades.

ASX-listed New Talisman Gold Mines reported that an updated prefeasibility study (PFS) had increased the project’s pre-tax net present value to NZ$36-million, compared with the NZ$15-million reported in the 2013 PFS.

The increase was driven by an increase in the mineral resource estimate in 2017, which saw the addition of some 18 000 oz of gold, which also resulted in the mine life increasing from five years to six years.

The project is now expected to recover 51 000 oz of gold over its mine life, instead of the 32 200 oz previously estimated.

The Talisman gold mine’s run-of-mine grade has also increased from 11.2 g/t to more than 27 g/t, while the breakeven gold price has reduced from NZ$1 075/oz to NZ$820/oz.

Furthermore, C1 cash costs have also reduced from NZ$692/oz to NZ$583/oz.

“The updated study demonstrates the robustness of the project economics, showing an internal rate of return of 118% demonstrating the significant value to investors in this world class mine,” said New Talisman CEO Matthew Hill.

“With the scoping study on Talisman Deeps being finalised in the coming days on the high-grade resources, and activity at the mine ramping up, we are starting to see the results of the team’s hard efforts.”

Edited by Creamer Media Reporter

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