Thunderbox gold project, Australia
Name and Location
Thunderbox gold project, Australia.
Client
Saracen Mineral Holdings.
Project Description
A feasibility study on Stage 1 of the Thunderbox operations has been completed, with the study showing robust economics over an initial 4.5-year mine life. It further envisages the development of a large openpit on the Thunderbox deposit, delivering 597 000 oz.
The start of mining will coincide with the completion of the Whirling Dervish openpit, allowing for a seamless integration between operations.
Several opportunities exist to extend the project life beyond Stage 1, including a bulk underground mine at Thunderbox and satellite openpit opportunities.
Stages 2 and 3 could potentially extend production to more than one-million ounces over an eight-year mine life at an average production rate of 126 000 oz/y.
Net Present Value/Internal Rate of Return
Stage 1 has a net present value, at an 8% discount rate, of A$120-million and an internal rate of return of 59%.
Value
A$65-million.
Duration
First gold from Stage 1 is planned for July 2016.
Latest Developments
The development of the Thunderbox mine is about three months ahead of schedule and Saracen has previously said that first gold production is expected during the June 2016 quarter.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
The project is ahead of schedule.
Contact Details for Project Information
Saracen Mineral Holdings, tel +61 8 6229 9100 or fax +61 8 6229 9199.
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