PERTH (miningweekly.com) – ASX-listed Kingston Resources on Monday confirmed that the divestment of its Misima gold project, in Papua New Guinea, was one of the avenues being investigated in the review.
Kingston earlier this year announced a review of the asset to assess options to maximise shareholder value.
The company on Monday said that a range of potential financing and ownership options were being reviewed, and that there were a range of potential outcomes from this review process, which could include an asset sale.
The strategic review follows a positive definitive feasibility study (DFS), delivered in June this year.
The DFS estimated that the project could produce 2.4-million ounces of gold over a 20-year mine life, at an all-in sustaining cost of A$1 217/oz. The project is expected to require a capital investment of A$476-million and could generate life-of-mine revenues of A$6.1-billion at a gold price of $1 800.