Hummingbird confirms positive metrics in Dugbe feasibility study
Aim-listed Hummingbird Resources has confirmed strong financial metrics for the Dugbe gold project, in Liberia, in a feasibility study released by project partner TSX-V-listed Pasofino Gold on June 13.
The study estimates a net present value after tax of $530-million and a 23.6% internal rate of return for the project, based on a $1 700/oz gold price.
The life-of-mine all-in sustaining cost is estimated at $1 005/oz, while the capital required is expected to be just under $400-million, excluding costs for a five-million-tonne-a-year processing plant.
The mine is expected to achieve an average yearly production rate of 200 000 oz for the first five years and to produce 2.27-million ounces over a 14-year mine life.
This is not including 67 000 oz of inferred mineral resources within the feasibility study area and immediate sidewalls.
Hummingbird is nearing completion of an environmental- and social-impact assessment, with publication expected before the end of the month.
Some advantages to the project are a short drive by road to the nearby Port of Greenville and that the Liberian government has already supported berthing rights for the company at the port.
Additionally, both the Tuzon and Dugbe F deposits of the project can be serviced by a central processing plant, owing to them being 4 km apart.
The company envisions using liquid natural gas power generation, hybridised with solar photovoltaic power generation, to produce an estimated levelised cost of energy of $175.10/MWh.
The Dugbe project is being developed by Pasofino through an earn-in agreement.
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