Economic metrics of Manica project ‘robust’ – Xtract
JOHANNESBURG (miningweekly.com) – Gold miner Xtract Resources has completed an in-house update on the economic metrics of the Manica project, in Mozambique, as part of the definitive feasibility study (DFS) that is being undertaken by independent consultants.
The company on Monday said the DFS was on schedule to be completed by the end of the second quarter of this year.
The in-house studies had determined a $70-million net present value (NPV) for the project, compared with the $50-million NPV estimated in a preliminary economic assessment (PEA), while the project’s internal rate of return (IRR) was now 50%, compared with the 58% set out in the PEA.
Manica’s life-of-mine (LoM) has improved to 12 years, from the eight years previously anticipated in the PEA, with LoM production expected to be 6.3-million tonnes a year, at a head grade of 2.93 g/t to recover 477 000 oz.
Production would start in the fourth quarter of 2017.
Xtract now expected start-up capital costs to reach $35-million, compared with the $28.4-million set out in the PEA. Cash costs were also higher at $549/oz, compared with the previously estimated $650/oz.
"The economic metrics of the Manica gold project remains robust),” said Xtract CEO Jan Nelson.
He added that the Manica project remained at the low end of the cost scale and that Xtract was focused on completing the DFS and starting mine construction.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.
VISIT SHOWROOM
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
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
