Name of the Project
Tampia gold project.

Location
The project is located in the wheat belt of Western Australia.

Client
Explaurum.

Project Description
An updated feasibility study has confirmed the project as technically sound and robust.

The study has further incorporated the Mace supergene resource into the mine plan. The addition of Mace will not require any additional capital or any changes to any of the Tampia project infrastructure requirements.

Life-of-mine (LoM) gold production in the updated study has been estimated at
481 398 oz, which is only slightly below the 489 517 oz previously estimated in the May 2018 feasibility study. The LoM has also decreased slightly from 5.25 years in the feasibility study to 4.67 years in the updated feasibility study.

Average yearly gold production has increased from 93 241 oz to 103 157 oz.

The updated study envisages an openpit mining operation using an excavator/truck mining fleet and the Tampia standalone processing plant designed for treatment of 1.5-million tonnes a year, but capable of a processing rate of up to 1.9-million tonnes a year on weathered feed such as that of Mace.

The Mace deposit is planned to be mined conventionally, with light blasting and using a 100 t class excavator. This approach is well suited to the nature of the Mace resource and the size, depth and configuration of the openpit. The Mace pit has been scheduled to be mined simultaneously with the Tampia pit over a six-month period.

In contrast to the May 2018 feasibility study, the updated study has deferred the flotation circuit and ultrafine grind circuit construction by 15 months after the start of operations.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value of A$156-million, compared with A$125-million in the May 2018 feasibility study, and a pretax internal rate of return of 70%, up from 47% in the May 2018 feasibility study. The updated feasibility study estimates payback in 1.25 years, which is down from 1.5 years in the feasibility study.

Value
Initial capital expenditure to commercial production has fallen from A$119-million in the May 2018 feasibility study to $111-million in the updated study.

Duration
Not stated.

Latest Developments
None stated.

Key Contracts and Suppliers
ALS Metallurgy (assaying, mineralogy and metal­lurgical testing); JT Metallurgical Services (metallurgy programme management); Kenex (geology); MBS Environmental (environmental); Metallurgy (metallurgical testing); MineComp (mine design); MinEcotech (project manage­ment and mining); and RSC Global (geology and resource estimation).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Explaurum, tel +61 7 3333 2722 or email info@explaurum.com.