Los Ricos North project, Mexico
Photo by © Bloomberg
Name of the Project
Los Ricos North project.
Location
Jalisco state, Mexico.
Project Owner/s
GoGold Resources.
Project Description
Los Ricos North has total indicated resources of 22.3-million tonnes grading 1.66 g/t gold equivalent and 122 g/t silver equivalent. Indicated resources are estimated at 20.5-million tonnes grading 1.51 g/t gold equivalent and
111 g/t silver equivalent.
A preliminary economic assessment on the project has proposed an operation with a 13-year mine life, producing 110.3-million payable silver equivalent ounces comprising 68-million silver ounces, 221 700 gold ounces, 22.8-million pounds of copper, 144.1-million pounds of lead and 242.2-million pounds of zinc.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $645-million and an internal rate of return of 39.8%, with an after-tax payback of three years.
Capital Expenditure
Initial capital costs are estimated at $221-million.
Planned Start/End Date
The project is expected to take 18 months to build.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
GoGold Resources investor relations contact Steve Low, tel +1 416 855 0435 or
email steve@gogoldresources.com.
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