The PFS also highlights a 73% increase in the after-tax NPV 5% to $523 million, a 50% reduction in initial capital to $747 million, and an increased after-tax IRR to 20.6% from 7.3%. The average gold reserve grade increased 19% to 2.6 g/t, and the life of mine strip ratio was reduced 39% to 7.58. The increase for contained gold in measured and indicated resources rose to 11 million oz., up 38% from 8 million oz. in 2012.
“We now have a second valuable 10-million-plus ounce gold resource project in a safe jurisdiction. The project consists of an entire greenstone belt which has prospective shallow drill results and gold showings along its 54 km length,” said Seabridge chairman and CEO Rudi Fronk. “As we move towards a joint venture on our KSM project, we will be shifting our attention to Courageous Lake’s potential to generate considerable additional shareholder value.“
He estimated that the PFS covers only 30% of the…
