Name of the Project
Warrawoona gold project.

Location
Pilbara, Western Australia.

Project Owner/s
Calidus Resources.

Project Description
A prefeasibility study (PFS) has demonstrated that Warrawoona will be a robust gold project.

The PFS envisages average production of 97 000 oz/y of gold over the six-year mine life, based on a total openpit and underground probable mining reserve at Klondyke, estimated at 8.9-million tonnes grading 1.5 g/t of gold.

Ore will be processed through a two-million-tonne-a-year conventional carbon-in-leach processing circuit with a single-stage crush and semiautogenous grinding mill.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based on a base case of an A$1800/oz gold price, the project has a pretax net present value, at an 8% discount rate, of $151-million and an internal rate of return of 40%, with a payback of 26 months from the start of production.

Capital Expenditure
The base case estimated capital expenditure is A$95-million, including contingency.

Planned Start/End Date
Not stated.

Latest Developments
Project permitting is expected to take 12 months. Initial drilling will be down-dip to improve confidence and shallow drilling along strike to the east to allow for an increased conversion from resource to reserve.

Key Contracts and Suppliers
GR Engineering Services (principal consultant and study manager and processing plant); Lynn Widenbar and Associates (mineral resource estimate); Rapallo, Biologic, Woodman, Sticks and Stones, Total Heritage, Nyamal Heritage, Bat Call, Graeme Campbell & Associates, Mine Earth and Lloyd George Acoustics (environmental, base line studies and project permitting); Peter O’Bryan and Associates (geotechnical); ATC Williams (tailings storage facility); Groundwater Resource Management (hydrology and hydrogeology); GR Engineering Services Metallurgy Management Services, Nagrom, ALS (metallurgy and testwork); GR Engineering Services and Aerodrome Management Services (infrastructure); Intermine Engineering Consultants and Dionysis Mining (mining); and George Viska (financial model).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Calidus Resources, tel +61 8 6245 2050 or email info@calidus.com.au.