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Explaurum publishes results of Tampia study

30th May 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – A feasibility study into the Tampia gold project, in Western Australia, has estimated that the project will require a capital injection of A$130.8-million to develop a 1.5-million-tonne-a-year operation.

ASX-listed Explaurum said on Wednesday that the openpit operation was expected to deliver an estimated 490 000 oz of gold over its five-year mine life, generating revenue of A$808-million, at a gold price of A$1 650/oz.

The project is estimated to generate life-of-mine earnings before interest, taxes, depreciation and amortisation of A$327-million. It has a pre-tax net present value of A$125-million and an internal rate of return of 47%.

The study is based on a mineral resource of 11.7-million tonnes, grading 1.79 g/t gold for 675 000 oz of gold, and a reserve of 7.2-million tonnes, at 2.09 g/t gold for 485 000 oz.

Explaurum told shareholders that the company was well funded to carry out additional work to increase the mineral resource for early stage processing with further exploration of the shallow gold mineralisation in the Mace prospecting area, which is within 1 km of the proposed openpit location, as well as through the conversion of existing resources.

The company will now work to complete a bankable feasibility study, and will be undertaking additional drilling, while also working to obtain the necessary regulatory approvals and licences for the Tampia project.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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