Lady Julie gold project, Australia

Image of hammered gold bar

Photo by ©Bloomberg

19th April 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Lady Julie gold project.

Near Laverton, in Western Australia.

Project Owner/s
Magnetic Resources.

Project Description
A prefeasibility study (PFS) completed in March 2024 confirmed the project as financially robust, with low-cost, high-margin gold production of 720 800 oz over a nine-year life-of-mine at
$2 800/oz. Average production is estimated at 87 000 oz/y. The PFS focuses on mining the indicated and inferred resources of Lady Julie North 4, Lady Julie Central and Hawks Nest 9. Lady Julie North 4 is the largest contributor to the study, producing more than 11.5-million tonnes of ore during its operation.

The project incorporates:

  • an openpit operation, involving three main pits with a maximum depth of 300 m (LJN4);
  • a staging area containing support infrastructure, including administrative offices and a medical centre, warehouses, workshop, fuel storage and distribution;
  • a 1.8-million-tonne-a-year processing plant, as well as tailings storage facilities; and
  • support infrastructure, including a power station and borefield.

Accommodation will be provided in Laverton, with daily commutes to the work site.

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$547-million and an internal rate of return of 85%, with a payback of 15 months from the start of production.

Capital Expenditure
A$93.4-million, including 15% contingency provision for the plant cost estimate, assuming a standalone 1.8-million-tonne-a-year processing plant and three months preproduction activities.

Planned Start/End Date
Not stated.

Latest Developments
Further refinement of the project’s economics will be conducted in 2024, with scope to further improve the economics through increasing process recoveries and modifying processing scenarios. Production and mine life estimates could potentially be increased by including the resources drilled since the last update provided in November 2023.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Magnetic Resources, tel +61 8 9226 1777.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor




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