3rd Feb 2016 09:27
LONDON (Alliance News) - Chaarat Gold Holdings Ltd on Wednesday said it has received the final draft results of the feasibility study for the Chaarat gold project in the Kyrgyz Republic and said the study has confirmed the project economics.
Chaarat said the final draft has estimated a low cost of production for the project, with a post-tax net present value for the project of USD351.0 million.
The initial investment to bring the mine into full production immediately would be around USD684.0 million, though Chaarat said there is potential to reduce this significantly and, through further project optimisation, to cut the total estimated costs of the mine.
The study estimated average annual gold production of 211,000 ounces from the mine when at full capacity, based on an 18-year mine life.
Shares in Chaarat were up 8.9% to 6.1249 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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