Victoria Gold - Eagle: A Very Robust, Large, Low-Cost Gold Project
Edison | Sep 20, 2016 06:30AM ET
Victoria Gold Corp (V:VIT) has released an updated feasibility study (FS) for the 20 September 2016 Eagle Gold Project in the Yukon, which includes run-of-mine ore from Eagle, higher-grade Olive ore, and accounts for the lower mine construction costs in Canada and the current prices for materials and process reagents. These new inputs have positively influenced operating costs (C1 estimated at US$539/oz, AISC at US$638/oz) and shortened construction from two years to one, while maintaining environmental standards. Further, Eagle’s economics have been positively affected by a devalued Canadian dollar against the greenback over the period since the previous 2012 FS, as well as a resurgent gold price.
Capex down via redesign, infrastructure savings
Eagle’s total initial capex amount is now C$370m, a 7.5% reduction over the 2012 FS capex estimate of C$399m. The majority of the cost savings have resulted from a redesign of the leach pads, eliminating the need for a water diversion channel at the toe of the leach pad. A further saving has been made via the recent purchase of a 100-man camp and kitchen, bought on the second-hand market for C$0.3m, and saving c C$6m in upfront capital costs.
To read the entire report Please click on the pdf File Below
Victoria Gold - Eagle: A Very Robust, Large, Low-Cost Gold Project
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