Besra improves Bau economics
PERTH (miningweekly.com) – Dual-listed gold miner Besra has nearly doubled the net present value (NPV) of Stage 1 of its Bau gold project, in Malaysia, after updating the project’s feasibility study.
The initial feasibility study, released in January this year, estimated that the project would have a NPV of some $48-million, while operating costs were estimated at $36.84/t.
All-in sustaining costs per ounce was estimated at $1 159.18.
Besra CEO John Seton said on Monday that since the release of the feasibility study, the company had updated some of the economic indicators to reflect firmer quotes from refineries for a concentrate offtake agreement, as well as correction of one calculation reference.
The updates resulted in Bau’s NPV increasing to $91.4-million, while its all-in cost per ounce reduced to $973.14/oz.
The project’s capital requirements remained unchanged at $134.8-million.
Seton noted that alternative exploration-based scenarios have also indicated meaningful improved economics from potential expansion of the initial Jugan Hill resource, using previously identified anomalies.
“Delineation of such additional resources around Jugan Hill will drive our exploration programme in the immediate future,” he added.
The project has a current Joint Ore Reserves Committee-compliant resource of 21.2-million tonnes, grading 1.64 g/t gold for 1.12-million ounces of measured and indicated resource.
The Bau project would produce some 116 000 oz/y of gold from late 2015.
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