Treasury outlines PEA results for Goliath project
Toronto-listed Treasury Metals has announced the results of a preliminary economic assessment (PEA) for the Goliath Gold Complex, which includes the Goliath, Goldlund and Miller deposits, in Ontario.
The study demonstrates the potential to develop a low-cost 5 000 t/d openpit and underground mining operation at a capital cost of C$233-million.
In the first nine years of its 13-year mine life, Goliath would produce an average of 102 000 oz/y.
The study yielded robust economics with an aftertax net present value, at a 5% discount, of C$328-million and an internal rate of return of 30.2%, using a gold price of $1 600/oz.
The project has a payback period of less than two years.
"With the announcement of the PEA results today, combined with receipt of the federal Environmental Assessment approval in 2019, we have confirmed the Goliath Gold Complex has sufficient critical mass and we expect Treasury Metals to become one of Ontario's next gold producers,” said president and CEO Jeremy Wyeth.
The project would now be advanced to prefeasibility study stage.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















