The study will leverage the project’s substantial repository of historical technical data from a 2011 prefeasibility study and subsequent 2008 feasibility study for the Box deposit, as well as the environmental baseline data set acquired for the 2008 EIS.
As part of the study, a plan and budget will be developed for advancing the project into development. The study is expected to take approximately two months to complete, Fortune Bay said.
The company also pointed out the robust economics outlined in the 2022 PEA. The Goldfields mine would have an after-tax net present value (5% discount) of $459 million, an internal rate of return of 50.5% and a 13-year payback at a gold price of $1,950/oz. Annual production will be 101,000 oz. at an all-in sustaining cost of $889/oz. Initial capital costs are at C$234 million.
It also mentioned de-risked mineral resources with further upside to build on the current open…
