Drill rig at the Goldfield property in central Nevada. (Image courtesy of previous owner, Chaparral Gold.)
Centerra Gold (TSX: CG; NYSE: CGAU) said it’s moving ahead with development and construction of its Goldfield project in Nevada after rising gold prices boosted estimated returns.
Using a long-term gold price of $2,500 per oz. and a discount rate of 5%, Goldfield now has an after-tax net present value of $245 million and an internal rate of return of 30%, Centerra said late Wednesday. Since gold’s 30% surge this year “has enhanced project returns,” detailed engineering and early procurement activities for construction will begin immediately, the company added.
Toronto-based Centerra is counting on Goldfield – which it predicts will become a “strategic” asset once production starts by the end of 2028 – to boost total output and offset natural declines at Turkey’s Öksüt gold mine….
