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Augur concludes scoping study on Radu Kuning

Augur concludes scoping study on Radu Kuning

Photo by Bloomberg

12th March 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – A scoping study by metals developer Augur Resources has indicated that its Radu Kuning deposit, within its Wonogiri project, in Indonesia, could deliver net cash flow of up to $143-million.

The scoping study found that an opencut operation could deliver between 1.74-million and 2-million tonnes a year of ore, over a life-of-mine (LoM) of nine years. LoM production was estimated at 283 000 oz of gold and 236 000 t of copper in concentrate, or 426 000 oz gold equivalent.

The project currently has a resource estimate of some 90.0-million tonnes, grading 0.35 g/t gold and 0.10% copper.

The scoping study revealed that the Radu Kuning deposit would require a capital spend of $56-million to build a second-hand plant and associated infrastructure.

Augur told shareholders that based on the positive scoping study, the company would now continue its exploration activities at Wonogiri to define further economic mineralisation at both Radu Kuning and the surrounding targets.

The exploration programme would target extensions of the known mineralisation, as well as more regional areas.

Edited by Creamer Media Reporter

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