Name of the Project
Cue gold project.

Location
Murchison gold region, Western Australia.

Project Owner/s
Musgrave Minerals.

Project Description
The outcomes of a Stage 1 prefeasibility study (PFS), one of two stages, have shown Cue as a financially robust, standalone 500 000 t /y operation, with a five-year life-of-mine (LoM).

The Stage 1 PFS envisages gold production of 337 000 oz over the LoM, with the initial three years averaging 80 000 oz/y.

The PFS includes the mining of six openpit deposi ts and an ini t ial two years of gold production from the upper levels of the Break of Day underground mine.

The Stage 1 PFS predominantly focuses on the current indicated mineral resources, which constitute only 47% of the total resource base.

The Stage 2 PFS will be based on an updated mineral resource estimate planned for late 2023.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$235.1-million and an internal rate of return of 95%, with a payback of nine months from the start of production.

Capital Expenditure
Preproduction capital is estimated at A$121.3- million.

Planned Start/End Date
Not stated.

Latest Developments
Musgrave plans to rapidly advance to a Stage 2 PFS to extend the LoM through ongoing infill drilling to convert inferred resources, and continue the exploration and drilling of mineralised prospects to underpin an updated mineral resource estimate in late 2023.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Musgrave Minerals, tel + 61 8 9324 1061 or email info@musgraveminerals.com.au.