Ascot says BC gold project will cost 20% more
TSX-listed Ascot Resources has revised the initial capital estimate for the Premier gold project, in northern British Columbia, adding 20% to its estimated expenditure to bring the past-producing mine back into operation.
Ascot in April last year announced a C$147-million capital estimate for the mine development, project construction and refurbishment of the project site. Since then, the company has progressed the basic and preconstruction engineering studies and has received proposals for construction and equipment from third-party vendors.
These proposals, CEO Derek White says, reflect more up-to-date studies and current market conditions for construction materials, shipping and indirect costs related to health and safety protocols.
The revised estimate for the initial capital increased by 20% to C$176-million.
“After these latest updates the project still remains a low capital cost project,” White stresses.
The 2020 April feasibility study highlighted a C$341-million after-tax net present value (NPV) and an after-tax internal rate of return (IRR) of 51% at $1 400/oz of gold, and an estimated C$546-million after-tax NPV and an after-tax IRR of 73% at current gold prices, at $1 740/oz.
The Premier project will produce about 1.1-million ounces of gold and three-million ounces of silver over eight years.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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