The company’s flagship property is the 100%-owned Rupert Lapland project that includes the Ikkari gold discovery about 50 km southeast of Agnico’s Kittila gold mine. The Lapland project includes the former Pahtavaara mine and mill.
Late last year, Rupert released the preliminary economic assessment of Ikkari with a net present value (5% discount) of $1.6 billion and an internal rate of return of 46% – both calculated after taxes. As planned, the project would have an all-in sustaining cost of $759 per oz. of gold produced.
The Ikkari deposit has an indicated resource of 46.4 million tonnes grading 2.5 g/t gold and containing almost 3.7 million oz. plus an inferred resource of 11.8 million tonnes at 1.9 g/t gold and containing 710,000 oz.
Rupert is planning a phased Ikkari mining plan that will optimize near-term cash flow. First will be 11 years of open pit mining, transitioning to underground in years 10 to 23. Ore from…
