The Shovelnose gold property in southern British Columbia. Credit: Westhaven Gold
Westhaven Gold (TSXV: WHN) has issued an updated preliminary economic assessment (PEA) for its Shovelnose property that showed an over 100% increase in its net present value, along with marginal improvements to the internal rate of return and payback.
The after-tax NPV, discounted at 6%, is now estimated at C$454 million, more than double the C$222 million from the previous assessment in 2023. The after-tax IRR also increased from 32.3% to 43.2%, while the payback period dropped half a year to 2.1 years. The all-in sustaining cost increased to $836/oz. gold-equivalent from $752/oz., but remains on the low end of the industry AISC curve.
The base case parameters used were $2,400/oz. gold and $28/oz. silver, versus $1,800/oz. gold and $22/oz. silver previously.
The new PEA contains resource contributions from two new zones…
