Project

Pre-Feasibility Study Economics

Project Economics for Mining of Reserves as a Standalone Operation

 

 Gold Price (USD)
 Units$1,200$1,400$1,600*$1,800$2,000$2,200$2,400
Pre-Tax Economics        
 NPV(5%)$M$125$486$848$1,209$1,570$1,931$2,293
 IRR%9%18%25%31%36%42%47%
 PaybackYrs5.44.03.22.72.42.11.9
 Cumulative Free Cashflow from Operations$M$1,040$1,583$2,127$2,670$3,214$3,758$4,301
Post-tax Economics        
 NPV(5%)$M$129$415$655$888$1,119$1,350$1,580
 IRR%9%16%22%27%31%36%39%
 PaybackYrs5.54.03.32.82.52.22.0
 Cumulative Free Cashflow from Operations$M$1,041$1,454$1,797$2,140$2,484$2,828$3,173

*PFS Base Case

Initial Capital Expenditures

Direct Costs

C$MUS$M
Overall Site$26$19
Open Pit Mining$73$56
Ore Handling$34$26
Process$125$95
Tailings and Water Management$40$30
Environmental Monitoring$2$2
On-site Infrastructures$42$32
Off-site Infrastructures$64$49
Water treatment Plant$10$7
Total Direct Costs$416$316
Project Indirects$102$78
Owner's Costs$14$10
Contingencies$75$57
Total$607$461

 

Unit Cost of Production

 UnitCADUSD
Mining$/t mined$2.22$1.69
Mining$/t milled$10.80$8.21
Processing$/t milled$6.58$5.00
G&A$/t milled$1.36$1.04
TSF$/t milled$0.17$0.13
Water treatment$/t milled$0.47$0.36
Total$/t milled$19.38$14.73

 

Select Operational and Cost Metrics 

 UnitYrs 1-6
Avg.
LOM
Avg.
 
Gold Gradeg/t0.880.76 
Annual Gold ProductionKoz183150(peak production 211Koz)
Annual Silver ProductionKoz6863 
Cash Cost /ozUS$$602$696 
All-in-sustainable Cost/ozUS$$707$801 
Total Cost/ ozUS$$974$1,068 

 

Cautionary Note Regarding Pre-Feasibility Study

The PFS referred herein was prepared by Moose Mountain Technical Services (MMTS) under the direction of Marc Schulte, P. Eng., a Qualified Person (as defined under National Instrument 43-101) who is independent of the Company.

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