Liberia gold project DFS expected soon
19th Mar 2012
TORONTO, Mar 19 – A definitive feasibility study on the 1.6Moz New Liberty gold project in Liberia is expected before the middle of this year.
Canadian company Aureus Mining Inc has announced a maiden open pit reserve of 873,000oz grading 3.1g/t and an eight year mine life with operating cash costs of $US632oz for its 100% owned project.
Average annual production is estimated at about 123,000oz for the first four years at 3.7g/t for total recoverable gold of 812,000oz.
The company is looking at a pre tax NPV of $260M and an IRR of 62% based on an average long term gold price of $1,350oz. Initial capital costs of $113.1M, include the 1.1Mtpa plant, all infrastructure and pre-strip mining costs, with a cost payback in under two years.
Mineral resources have been updated to 1.6Moz grading 3.6g/t, which includes about 1.1Moz measured and indicated, and 0.5Moz inferred.
Aureus also has gold assets in Cameroon.
Also in the March 14 - 20, 2012 edition
- AFRICA
- Kasbah’s door opens a little wider
- Minbos boss confident about first production
- Time for a little show and sell
- ASIA DESK
- Ten minutes of fame
- AustMETS
- Mining a portal to ‘smarter’ future
- Mining’s backroom hall of fame – Part I
- COAL
- Orpheus sees positive in Indonesia rule change
- EDUCATION
- Kinross backs mining H&S professorship
- UNSW establishes ‘Rio’ mining chair
- EUROPE
- Europe told to ‘get in the game’
- Industry not short of advice for EU politicians
- Leave it to the little guys
- Let’s not be critical
- Metals shortage, what metals shortage?
- Power to the people
- Socialism so 2007
- EXPLORATION
- Digging a little deeper on Mumbwa
- FINANCE
- Indonesian rules leave expats guessing
- Meadows sees much fertile ground for IMX
- Santa Rita still has time
- FROM THE CAPITAL
- Resource sector equities could resist China slowdown
- HEAVY METAL
- Shenhua expands Sandvik miner fleet
- INTERCEPTS
- AIM to facilitate gold production
- Alacer joins mid-tier ranks
- Alliance set to win Argyle flights
- Altona cash flowing
- Balamara turns focus to central Europe
- Banpu outlines regional capex plan
- Bassari nears Makabingui extension
- Beadell to add iron to diet
- Bell signals strong 2012
- Big Ncondezi resource lift
- Black Fire sets tungsten scoping target
- Blackwood looks at stage-two drilling at Taroom
- Boulsa gold target set
- Bulletin posts Nicolson's increase
- Bushveld set for AIM
- California sets start date for Sonora drilling
- Cancana works on spin-out plans
- Capital raises Mayfield stocks
- Carbine reloads
- CMC acquisition hands West African more ground
- Cockatoo sells Woori stake
- Crater Mountain vista expands
- Cullen gets some West Pilbara funding
- CWA to have long look at Vista
- Daw Mill future in doubt
- Deal creates new Realm
- Doing business in Indonesia: a lesson from the front line
- Dutwa tests to begin next quarter
- Eelya copper hunt to start
- Employees offered share of Harmony
- Exxaro's target readies for ASX exit
- Ferrum promises more Moonlight
- FMG asks for more, please
- Forge signs Balla Balla funds deal
- Gascoyne to speed Glenburgh study
- Gem sees Letseng lift
- Glass Earth to lift Dunstan output
- Great Western raises rare earth funds
- Greenland lifts Kvanefjeld inventory
- Hannans wins support for bid
- Haranga out with maiden JORC
- Hastings gets helping hand
- Hothschild rides silver price
- Hutton new Mithril MD
- IMX aims high at Mt Woods
- Intermin targets Teal gold
- Ivanhoe looks to secure $US4B facility
- Jambreiro on track
- Junefield grabs Latin stake
- Kaboko says offtake deal in place
- Kalahari clean-out
- Kalgoorlie North to absorb big drill program
- Kangaluwi copper looms larger
- Kasbah lifts tin resource
- Kirkalocka rebirth continues
- Labrador secures upgrade funding
- Latin likes Guadalupito shape
- Leighton fined over disclosure
- Leopard spots funding opportunity
- Magnum resource can grow: Antipa
- Manas expects to complete study this month
- Marengo set for Yandera raising
- Markets sink Korab spin-offs
- Medusa slashes production forecast
- Minemakers dismisses speculation
- Mithril posts low-grade Basil resource
- Moody's lifts AGA debt rating
- Moody's upgrades AGA debt
- Morning Star funding boost
- New Age seeks Colombia coal funds
- New Hope profit rises
- Nex target is Butterfly
- Norilsk to upgrade NIA power
- Ntaka nickel project edges forward
- Orsu books Karchiga start
- Overland to focus on Yukon
- Panton's borderline returns
- Peak Hill partners find more ore
- Peru illegal mining protests turn ugly
- Peru protestors pull back
- PFS shows Cyclone high-level
- PMI completes fund raising
- Potash contract price pegged at $US470/t
- Proto assesses borderline project
- Qube wins DeGrussa contract
- R384M for new block cave
- Ramelius opens second gold front
- Randgold devises Gounkoto pact
- Realm boosts coal resource
- Red5 raises $15M for Siana
- Reed expands Meekatharra resource
- Rio prices bond issue
- Rockwell hopes to extend Saxendrift
- Roper Bar excluded from park
- SA port will lift Carpentaria prospects
- Shake-up gets results at Timmins mine
- Sierra posts maiden Luzon resource
- Stanmore increases Range resource
- Sumatra says licence imminent
- Sundance, Equatorial sign MOU
- Sylvania faces production cut
- Takatokwane update due soon
- Talisman underground potential
- THEMAC gets good Copper Flat news
- Tinma may extend Rambler backing
- TSX, ASX strike off Anvil
- Uranex starts big Likuyu program
- Vale appeal successful
- Venture adds modest DSO
- Venturex looks at Sulphur Springs hub
- Voyage of discovery
- Wah Nam wrap-up recommended
- Weednanna new IronClad target
- Wessels' experience welcomed
- Wetar offtake secured
- MINING INTELLIGENCE
- Why do mines perform poorly? Because they can
- PEOPLE
- People on the move: Coffey, AMC Consultants, Xstract, Bullabulling Gold, AusAmerican, Rubianna, Triple Point
- RUSSO'S RULES
- The Producer Ponzi Premium – is it out there?
- SOUTH AMERICA
- Cabral gets moving in Bahia
- VIEW FROM THE WEST END
- Try sometimes