13th Jun 2022 21:22
Hummingbird Resources PLC - gold production, development and exploration focused on West Africa - Notes Pasofino Gold Ltd publishing the feasibility study for the Dugbe gold project in Liberia, which gives a pretax net present value of USD690 million and a 26% internal rate of return.
The mine is capable of producing 2.27 million ounces over a 14-year life-of-mine, with an annual average output of 200,000 ounces for the first five years. The mine is a total mineral reserve of 2.76 million ounces.
"We are delighted to receive the results from the robust FS that has been conducted by Pasofino. The FS has been conducted to a high standard and has seen a complete remodelling of the Resource base, to now showcase a significant 2.76Moz Reserve base, long LOM of 14 years with upside given the material exploration potential available and a low AISC profile of USD1,005/oz to underpin a gold mine of material value," said Chief Executive Officer Dan Betts.
Current stock price: 12.34 pence, down 3.3% on Monday
12-month change: down 41%
By Dayo Laniyan; [email protected]
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