Developer -- die Suche nach Alpha


  • G Mining Ventures Announces Closing of First Tranche of Private Placement Financing

    https://www.accesswire.com/709…ivate-Placement-Financing

  • Monarch Produces First Gold Bar From Its Beaufor Mine




    • This first gold bar represents a major milestone for Monarch since its listing in January 2021
    • As of today, a total of 23,914 tonnes of ore averaging 4.76 g/t Au are currently stockpiled, ready to be processed.
    • Monarch will continue to ramp up the production rate at the Beacon Mill and expects to reach commercial production in the coming months.

    [Blockierte Grafik: https://uploads-ssl.webflow.co…eaufor-mine-gold-bar.jpeg]


    https://assets.website-files.c…entation_July2022_EN2.pdf

  • Silver X To Settle Royalty Debt

    https://www.accesswire.com/713…-X-To-Settle-Royalty-Debt
    VANCOUVER, BC / ACCESSWIRE / August 22, 2022 / SILVER X MINING CORP. (TSX-V:AGX) (OTCQB:AGXPF) (FRANKFURT:WPZ) ("Silver X" or the "Company") is pleased to announce that the board of directors of Silver X has approved the settlement of CAD$540,377 (US$494,706) of debt (the "Debt Settlement") through the issuance of common shares of the Company (the "Shares").
    Pursuant to the Debt Settlement, Silver X would issue 1,801,256 Shares at a deemed price of $0.30 per Share to Maverix Metals Inc. ("Maverix"), in payment of accrued royalties to June 30, 2022, and correspondent interest. The issuance of the Shares to Maverix is subject to TSX Venture Exchange acceptance.
    All Shares issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.


    Recuperada
    MMX Interest: 3.0% NSR royalty
    MMX Metal Exposure: Silver (Ag), Zinc (Zn), Lead (Pb)
    https://maverixmetals.com/assets/paying-assets/recuperada/


  • Silver X - AGX, Marktkap. knapp 31 Mio. C$, gut 140 Mio. Shares


    Höhepunkte im Juli


    123.952 Unzen* Silberäquivalent (AgEq) aus der Verarbeitung im Juli berechnet, ein Anstieg um 58 % gegenüber Juni 2022
    Durchschnittlicher berechneter Kopfgehalt der Verarbeitungsanlage von 10,84 oz/t AgEq* im Juli

    Im Juli berechnete Metallgewinnungsraten der Verarbeitungsanlage von 86 % für Silber, 74 % für Gold, 82 % für Zink und 87 % für Blei

    Die Verarbeitung wird im 3. Quartal mit dem neu fertiggestellten Zugang zur parallelen Cauca-Struktur erweitert



    Der geneigte Leser fragt sich, sind knapp 11 oz AgEq nun viel oder wenig.


    Die Kosten für die Gewinnung und Verarbeitung einer Tonne Erz müssen verdient werden, damit das Unternehmen Cash Flow positiv arbeiten kann.


    11x 19 = 209 US$ ist der Metallwert der Tonne davon werden knapp 80% gewonnen = 167 US $/Tonne


    Das entspricht ungefähr 1/10 oz Gold also ca. 3 Gramm Au/Tonne.


    Nicht schlecht! - Interessant ist natürlich wieviel von dem Betrag auf AG, Au, Zn bzw. Pb fällt.
    Wie hoch sind die Reserven und wieviel Erz soll im kommerziellen Betrieb verarbeitet werden.
    Am Anfang wird wegen des Geldmangels nach dem Minenbau gerne das hochwertige Erz abgebaut.



    Der aktuelle Kurs liegt bei 0,22 C$, da sind 0,30 C$ zur Schuldentilgung ein guter Preis pro Aktie.
    Habe MMX neu im Depot.



    LG Vatapitta

  • [Blockierte Grafik: https://www.newsfilecorp.com/i…e/customer-logos/7003.jpg]


    Thor Explorations Announces Second Quarter 2022 Financial and Operating Results, for the Three and Six Months Ending June 30, 2022
    https://www.newsfilecorp.com/release/135295


    Operational Highlights of the Period and H1 2022

    • Achievement of commercial production with 23,785 oz of gold produced at Segilola in the Period (H1 2022: 45,128 oz)

      • Average mill feed grade during the Period was 3.66 grammes per tonne ("g/t") gold and recovery was 95.5%
      • The Company exported the gold regularly throughout the Period selling 22,172 oz (H1 2022: 38,830 oz) of gold and 1,351 oz (H1 2022: 2,273 oz) of silver in the Period
    • Gold dore inventory of 2,065 ounces on hand, with 6,069 ounces in transit as at the end of Q2 2022
    • Zero Lost Time Incidents during Q2 2022
    • The Company has funded a range of livelihood restoration programmes to aid the local community members who lost assets (crops and trees) and land within the mine's footprint
    • Community development included support for women's programmes, school scholarships for children from vulnerable families, road upgrades and construction of local market facilities

    Financial Highlights of the Period and H1 2022

    • Net profit for the period US$6.163m
    • Gold sales in the Q2 2022 generating revenues of US$41,354,747 (H1 2022: US$66,220,229)
    • As at June 30, 2022, the Company had cash of US$5,055,930
    • Sales of 22,172 oz (H1 2022: 38,830 oz) at a cash operating cost of US$922 per oz (H1 2022: US$788 per oz) sold and an all-in sustaining cost ("AISC") of US$956 per oz sold (H1 2022: US$852 per oz)
    • As at June 30, 2022, the Company had Net debt of US$37,306,971 (Q1 2022: US$50,463,920)
    • In the Period, the Company repaid US$14,461,938 million, principal and interest, of its Senior Secured Debt Facility with Africa Finance Corporation ("AFC")
    • Instalment payments on the AFC Senior Secured Debt Facility of US$9,740,959 are due by December 31, 2022. These will be paid from cashflows during the year
    • The payment of the final EPC invoices has been extended by the EPC Contractor following the delay in commercial production experienced in Q4 2021 and will be paid from cash flows during H2 2022
    • In Q1 2022, the Company changed its presentation currency to the United States dollar ("$"). This being the functional currency for the Company, and the currency of the primary economic environment in which the Company operates.
  • [Blockierte Grafik: https://mma.prnewswire.com/med…illion_Ounce_Montagne.jpg]


    Orea Secures 100% of 5 million Ounce Montagne d'Or Gold Deposit

    https://www.newswire.ca/news-r…ld-deposit-856726904.html

    VANCOUVER, BC, Aug. 31, 2022 /CNW/ - Orea Mining Corp. ("Orea") (TSX: OREA) (OTCQB: OREAF) (FSE: 3CG) is pleased to report that it has entered into a legally binding letter agreement with Nord Gold plc ("Nordgold") to obtain its 55.01% interest (for a total of 100%) in the Montagne d'Or joint-venture company in French Guiana, France. Montagne d'Or is a permitting stage, 5-million-ounce open pit gold mine development project with good grade, excellent metallurgy, and considerable potential to increase ounces by infill and expansion drilling.*



    "This agreement is very accretive for Orea shareholders", said Robert Giustra, Chairman of Orea. "Orea previously owned 45% of a gold project with an NPV of US$370 million, based on a US$1,200 gold price for calculating reserves, and US$1,300 for calculating resources. Orea has now signed a deal to control 100% of that project, and is planning to carry-out updated economic studies with current inputs, to determine what will certainly be a much higher NPV at significantly higher current gold prices of over US$1,700".



    Under the terms of the letter agreement, there are no up-front payments. Consideration is entirely at the back-end, whereby Orea will only be obligated to pay Nordgold CAN$100 million when Orea receives all permits and authorizations, necessary for construction of a mine that produces a minimum of 100,000 ounces of gold per year. If Nordgold's shareholders are still under sanctions at the time of the CAN$100 million payment, then the funds will be paid to a blocked bank account.

  • Equinox Gold and Sandstorm Gold Royalties Launch Sandbox Royalties: A Diversified Metals Royalty Company
    https://www.prnewswire.com/new…ty-company-301555568.html
    VANCOUVER, BC, May 26, 2022 /PRNewswire/ - Equinox Gold Corp. ("Equinox Gold") (TSX: EQX), (NYSE: EQX) and Sandstorm Gold Ltd. ("Sandstorm Gold Royalties" or "Sandstorm") (NYSE: SAND) (TSX: SSL) are pleased to announce the creation of Sandbox Royalties Corp. ("Sandbox Royalties" or "Sandbox"), a new diversified metals royalty company. Equinox Gold and Sandstorm have each entered into definitive purchase and sale agreements (the "Definitive Agreements") with Rosedale Resources Ltd. ("Rosedale") whereby Rosedale will acquire a portfolio of royalties from Equinox Gold for consideration of $28.4 million in common shares of Rosedale and from Sandstorm for consideration of $65 million comprising $32.1 million in common shares of Rosedale and $32.9 million in a promissory note convertible into common shares of Rosedale (collectively, the "Transaction"). Upon closing, Rosedale intends to change its corporate name to Sandbox Royalties Corp. In this press release, Rosedale is used to refer to the company before closing and Sandbox is used to refer to the company after closing. All dollar figures are in US dollars unless otherwise stated.
    SANDBOX HIGHLIGHTS

    • A new, well-funded and diversified metals royalty company: Sandbox will have exposure to a range of resource royalties including gold, silver, copper, zinc, graphite and uranium, immediate cash flow from producing royalties, a strong treasury and significant leverage to strengthening metal prices and resource growth.
    • Top mining jurisdictions: Sandbox's royalty portfolio assets are primarily located in mining-friendly jurisdictions in the Americas and Europe.
    • Experienced management: Sandbox will be led by Greg Smith as President and Chief Executive Officer, Marcel de Groot as Chair of the board, Victoria McMillan as Chief Financial Officer, and Craig Rollins as General Counsel.
    • Supportive shareholders: Sandstorm and Equinox Gold will hold a 34% and 30% basic interest, respectively, in Sandbox, providing the opportunity to participate in and facilitate future growth of Sandbox.

    Sandstorm Portfolio
    Royalties to be acquired from Sandstorm (the "Sandstorm Portfolio") include:

    • Hackett River: 2.0% net smelter return ("NSR") royalty on the Hackett River silver-zinc-copper development project in Nunavut, Canada owned by Glencore plc;
    • Prairie Creek: 1.2% NSR royalty on the Prairie Creek zinc-silver-lead development project in the Northwest Territories, Canada owned by NorZinc Ltd.;
    • Vittangi: 1.0% NSR royalty on the Vittangi graphite development project in Sweden owned by Talga Group Ltd.;
    • Mason: 0.4% NSR royalty on the Mason copper-gold development project in Nevada, USA owned by Hudbay Minerals Inc.; and
    • Converse: 1.0% NSR royalty on the Converse gold development project in Nevada, USA owned by Waterton Global Resource Management LP.

    The Sandstorm Portfolio also includes 1.0% NSR royalties on a portion of the Ajax copper-gold project in British Columbia, the Buffelsfontein gold project in South Africa and the Cuiu Cuiu gold project in Brazil, and a 2.0% NSR royalty on the Wiluna uranium project in Australia.
    Equinox Gold Portfolio
    Royalties to be acquired from Equinox Gold (the "Equinox Gold Portfolio") include:

    • Mercedes: 2.0% NSR royalty on the producing Mercedes gold mine in Sonora, Mexico owned by Bear Creek Mining Corporation;
    • Pilar: 1.0% NSR royalty on the producing Pilar gold mine in Goiás, Brazil owned by Pilar Gold Inc.; and
    • Cuiu Cuiu: 0.5% NSR royalty on the Cuiu Cuiu gold project in Pará, Brazil owned by Cabral Gold Inc.

    In addition, the Equinox Gold Portfolio includes a note receivable from a subsidiary of Gold Mountain Mining Corp. with a face value of C$3 million due in full in May 2023, and C$3 million in cash.


    Soweit ich weiß, gibt es noch keinen neuen Stand, außer hier:
    https://www.sec.gov/Archives/e…127956922001334/ex991.pdf



  • Higher Grade Ore from the Tangana Vein Leads to Further 57% Increase in Silver Equivalent Processed in August


    https://www.accesswire.com/714…alent-Processed-in-August


    August 2022 Highlights



    195,038 silver equivalent ounces* (AgEq) processed in August, a 57% increase from July 2022.

    • Average processing plant head grade of 18.29 oz/t (568.77 g/t) AgEq* in August
    • August processing plant metal calculated recoveries of 87% for silver, 80% for gold, 84% for zinc and 89% for lead
    • Intercepted the Cauca vein with a cross-cut at the 650 Level and started its underground exploration and development.
    • Cauca development will allow for the eventual doubling of active fronts at Tangana
    • Mine development focused on gold rich ore-shoots and prioritizing ore grades
    • Advanced 327 meters of workings at Tangana, both in drifting along Tangana & Cauca veins, development ramps, and cross cutting.

    [Blockierte Grafik: https://www.accesswire.com/users/newswire/images/714697/silverx111.png]

  • Sabina Gold und Silver gibt heute die offizielle Bauentscheidung an!


    Vollständig genehmigt und finanziert.


    ....
    Das Projekt hat alle wichtigen Genehmigungen und Zulassungen für den Bau und den Betrieb erhalten.


    Das Unternehmen hat ein umfassendes Projektfinanzierungspaket zusammengestellt, das Folgendes umfasst:


    Eine vorrangig besicherte Kreditfazilität in Höhe von 425 Millionen US$, ein Goldvorauszahlungs- und Strompaket mit Orion Mine Finance und Wheaton Precious Metals Corp. sowie 221 Millionen US$ an Eigenkapital, einschließlich der Beteiligung von Zhaojin.


    Das Unternehmen engagiert sich auch sehr für seine Inuit-Stakeholder, wobei die Beschäftigung und die Möglichkeiten für Inuit einen Schwerpunkt bilden. Das Unternehmen hat mit der Kitikmeot Inuit Association ein 20-jähriges erneuerbares Landnutzungsabkommen unterzeichnet und sich im Rahmen dieses Abkommens zu verschiedenen Nachhaltigkeitsinitiativen verpflichtet.
    ...


    https://www.sabinagoldsilver.c…n-for-the-goose-gold-mine

  • Hier gibt es einen Faden:
    https://www.goldseiten-forum.c…2526%2BSilver#post1437434

  • G Mining Ventures hat heute die Bauentscheidung bekanntgegeben


    • Positiver Baubeschluss für das Goldprojekt Tocantinzinho durch das Board of Directors genehmigt
    • Erweiterung der wichtigsten Installationslizenzen erhalten
    • Fortschritte bei der Beschaffung und bei den Zusagen für langwierige Posten, wobei bis dato $ 136 Millionen (29% des Gesamtbetrags) zugesagt wurden (29% des Gesamtbetrags) im Rahmen des Budgets, wobei die Detailplanung zu 30% abgeschlossen ist
    • Vorgezogene Arbeiten wurden pünktlich und im Rahmen des Budgets abgeschlossen, ohne dass es zu Ausfallzeiten kam
    • Ernennung von Mathieu Gignac als Projektdirektor, Julie-Anaïs Debreil als Vizepräsidentin für Geologie und
      Ressourcen, und Eduardo Leão als Nachhaltigkeitsmanager


    https://assets.ctfassets.net/j…sion_I_09.12.2022__1_.pdf

  • Adriatic Metals reports 1H results

    https://www.adriaticmetals.com…atements-30-june-2022.pdf


    Business Review
    Highlights of the six months ended 30 June 2022 Vares Project, Bosnia & Herzegovina Vares Project construction activities update:
    Contracting and mobilisation of the Mining Contractor
    Upper Decline Portal complete
    Lower Decline development commenced, with improving ground conditions and advance rates
    Rupice access roads 65% complete, Section 1 of haul road, stockpile pad and paste & backfill pad under construction
    Approximately 66% of capital expenditure awarded, pending award or quoted
    Commencement of foundations at Vares processing plant
    Potential life of mine increase from both Rupice Northwest exploration drilling and confirmation drilling
    Staff count at 164 and growing. Contractor count at 158 Inflationary pressures under control, Project remains on time for concentrate production in Q2 2023.
    The concession area package around the Project continues to expand with the addition of the Saski Do concession.


  • i-80 Gold Drilling Expands South Pacific Zone High-Grade at Granite Creek

    https://www.newswire.ca/news-r…nite-creek-830795908.html


    Highlight results from 2022 drilling in the South Pacific Zone (and adjacent horizons):

    • 12.1 g/t Au over 7.0 m (0.35 oz/ton Au over 23.0 feet) in hole iGS22-07
    • 19.6 g/t Au over 10.4 m (0.57 oz/ton Au over 34.0 feet) in hole iGS22-16
    • 44.4 g/t Au over 6.4 m (1.30 oz/ton Au over 21.0 feet) in hole iGS22-18
    • 10.7 g/t Au over 14.5 m (0.31 oz/ton Au over 47.7 feet) in hole iGS22-24
    • 15.3 g/t Au over 7.1 m (0.45 oz/ton Au over 23.4 feet) in hole iGS22-25

    [Blockierte Grafik: https://mma.prnewswire.com/med…7159/2.jpg?p=distribution]


  • Los Andes Copper Project Update


    https://www.newsfilecorp.com/release/137807



    Desalinated Water Agreement Advanced as Part of Pre-Feasibility Planning

    Vancouver, British Columbia--(Newsfile Corp. - September 20, 2022) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") is pleased to report on progress on its Vizcachitas large-scale copper project in Chile. A letter of intent has been signed with Desala Petorca SPA to work on the project option to use desalinated seawater for the project ("Desala"). Desala is a firm dedicated to the development of water desalinization for water consumption and irrigation under a multi-purpose and multi-client scale. Desala is developing plans for a desalinated plant in the coast of Papudo, V Region, with a capacity of approximately 2,050 lts/sec. The agreement with Desala advances an important option for the project consistent with sustainable mining for copper which is an essential metal for electrification.


    R. Michael Jones, CEO of Los Andes, said: "We continue to advance our Pre-Feasibility Study (PFS) on our world-class copper project with a target date of completion in Q4 2022. Advancing the engineering and project development plans to include the potential for collaboration on desalinated water adds an important sustainable option to the project. We have the opportunity in the Vizcachitas Copper Project to design a mine with sustainability as a core principle. The Desala collaboration when constructed can be a potential positive contributor to local water availability for our region."
    [Blockierte Grafik: https://cdn-ceo-ca.s3.amazonaws.com/1hi1gep-Screenshot%20at%20Sep%2013%2013-45-34.png]



    In other work on the PFS, the team is finalizing the updated resource model to include the excellent results obtained so far in the 2022 drill program and complete the required iterations of the open pit mine plan. Optimizations of the mill and metallurgical work are underway using dry stack tailings and a high-pressure grinding rolls system to crush the ore for processing. These two features significantly reduce water and energy consumption in the process of taking rocks through to copper concentrate. The addition of the potential for the use of desalinated water makes Vizcachitas an excellent example of a truly modern large-scale mine designed to minimize environmental and social impacts.

  • Silver X Confirms 200 Metre Mineralized Downdip Extension of Tangana 1 Vein with Recent Drilling That Includes Results Up To 816 G/T AgEq* Over 0.84 Metres And 291 G/T AgEq* Over 4.27 Metres

    https://www.accesswire.com/718…1-GT-AgEq-Over-427-Metres
    VANCOUVER, BC / ACCESSWIRE / September 29, 2022 / SILVER X MINING CORP. (TSX-V:AGX)(OTCQB:AGXPF)(FRA:WPZ) ("Silver X" or the "Company") is pleased to provide an update on recent diamond drilling and channel sampling at the Company's Nueva Recuperada project (or the "Project"). The spatial arrangement of zinc/lead ratios across surface and underground assays, including from recently completed drill holes TN-2022-019 to 024, indicate that the exposed 1.38-kilometer section of the Tangana 1 vein has been offset by a series of cross-cutting reverse faults into three blocks. Follow up exploration based on the results and their interpretation will focus on the Western block oreshoot where higher grade silver mineralization is anticipated, based on this new interpretation and surface exposure.
    [Blockierte Grafik: https://www.accesswire.com/users/newswire/images/718080/picture1-1.jpg]
    [Blockierte Grafik: https://www.accesswire.com/users/newswire/images/718080/picture2.jpg]

  • Minera Alamos Announces Positive Preliminary Economic Assessment for The Cerro de Oro Gold Project
    After-Tax IRR of 111% and sub-$30 million CAPEX

    https://www.newsfilecorp.com/release/139234
    Highlights of PEA

    • Production highlights

      • Average annual gold production approaching 60,000oz (~60,000oz to 70,000oz in Years 1 through 4).
      • 8.2 year mine life based on initial mineable total of 59 Mt of mineralization (0.37 g/t Au) heap leached at an average rate of approximately 20,000 tpd -- +0.40 g/t Au in Years 1 through 4.
      • 477koz of gold produced in loaded carbon/doré.
      • LOM strip ratio of 0.3:1 (waste: mineralization)
    • Robust economics using metals prices of $1,600/oz Au

      • LOM All-In Sustaining Cost (AISC) of $873/oz -- averaging $763/oz in Years 1 through 4.
      • After-Tax NPV at 5% of $150.5M and IRR of 111%.
    • Low capital intensity project with rapid payback:

      • Pre-production capital costs of $28.1M (includes 30% contingency).
      • Payback period of 11 months.
      • Used crushing plant already purchased reduces up-front capital requirements.
    • Significant Upside

      • Mineralization appears open in multiple directions as well as to depth.
      • Additional metallurgical testing to examine amenability of gold recovery from deeper sulphide zones of mineralization not accounted for in current resource calculations and mine plans (some early indications that material may prove to be leachable).
    • Updated Inferred Mineral Resource estimate containing 67 million tonnes of 0.37 g/t Au (790 koz of contained gold) based on an upward revision of the base case resource metal price to $1,700/oz.

    Project Opportunities
    The PEA identifies several project opportunities to further enhance project economics. These include:

    • The known zones of gold mineralization appear to remain open both laterally and at depth.
    • Additional metallurgical testwork should allow for a more complete understanding of the gold recovery versus crush size relationships for different areas of the deposit and potential improvements in overall gold extraction via optimization of the processing parameters.
    • Based on preliminary testwork there appears to be potential to leach sulphide mineralization at depth. Further metallurgical work should continue to evaluate the amenability of leaching this material, followed by additional drilling to better delineate the extents of these zones if warranted.
    • Additional mine planning optimization studies to evaluate opportunities to expand annual production rates and better optimize production phasing.
    • Haul road optimization to attempt to reduce distances to the planned leach pads.

    Project Recommendations
    The PEA identifies several recommendations to advance the development of the Project. These include:

    • Topographic work to provide additional accurate positions and directional details for historical drill holes.
    • Infill drilling program (Phase 1) for resource modelling purposes and to collect samples for additional metallurgical test work as well as in-situ rock density studies.
    • Preparation of plans for an additional phase of exploration drilling aimed at defining disseminated sulphide extensions of known oxide mineralization.
    • Geotechnical site investigations to obtain a better understanding of existing ground conditions for open pit slope, waste dump and leach pad design purposes.
    • Further pit design optimization to examine access road development alternatives, open pit phasing to maximize mined mineralization release and further smoothing of the production profile later in the mine life.
    • Additional metallurgical optimization studies (coarse bottle roll and columns) to examine crush size/gold recovery relationships and variability for primary lithological zones within the Project mineralization.
    • Sulphide mineralization leach studies.
    • Complete environmental baseline studies for preparation of MIA/ETJ application.
    • Hydrogeological survey of the project area to prioritize locations for process water access.


  • [Blockierte Grafik: https://storage.googleapis.com…subaccounts/29466.png?v=2]
    G Mining Ventures Announces Repurchase of 1% NSR Royalty on Tocantinzinho Gold Project

    https://www.accesswire.com/718…ocantinzinho-Gold-Project
    BROSSARD, QC / ACCESSWIRE / October 4, 2022 / G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSXV:GMIN)(OTCQX:GMINF) is pleased to announce that it is exercising its right to buydown 1.0% of the total 2.5% net smelter return royalty ("NSR") held on its Tocantinzinho Gold Project ("TZ" or the "Project"), resulting in a NSR of 1.5% (the "Second Buydown Right"). In consideration for the Second Buydown Right, the Corporation will make a cash payment of $3.5 million to the original royalty holders pursuant to the agreement dating back to 2003, as subsequently amended (the "Original Royalty Holders").
    The decision to exercise the Second Buydown Right was made within 30 days of the Corporation's Board of Directors' decision to proceed on full construction on TZ, and provides increased exposure to the Project's exploration potential, while reducing the projected operating costs.
    Louis-Pierre Gignac, President & Chief Executive Officer, commented: "The second buydown of 1.0% of the NSR for $3.5 million is another highly accretive transaction for GMIN shareholders, based on economics in our February 2022 updated Feasibility Study and detail engineering work up to 37% completed to date. The updated feasibility study from February 2022 incorporated many of inflationary pressures seen in the industry, while still demonstrating very positive results of NPV5% of $622 million and IRR of 24% using a $1,600 per ounce gold price. We are very pleased to hit this planned milestone toward commercial production at TZ in the second half of 2024, which will be one of the largest primary gold mines in Brazil."
    The permitted Tocantinzinho Project, is located in Pará State, Brazil. Tocantinzinho is an open-pittable gold deposit containing 2.0 million ounces of reserves at 1.3 g/t. The Project is fully financed and currently under construction. The deposit is open at depth, and the underexplored 996km2 land package presents additional exploration potential. The technical report entitled "Feasibility Study - NI 43‐101 Technical Report, Tocantinzinho Gold Project" dated February 09, 2022 is filed on SEDAR under the GMIN issuer profile.
    Timetable and Next Steps
    Having made the positive construction decision, the Corporation will be focused on the following activities:

    • Finalization and results of 10,000-meter exploration and drilling program in Q4-22;
    • Completion of detailed engineering through H1-23;
    • Issuance of inaugural ESG report in 2023; and
    • Expected first gold production in H2-24 with the first year of full production in 2025.

    Additionally, the Corporation will be attending key investor conferences in the fall in order to update current shareholders and prospective investors on the progress being made at TZ, including:

    • OTC Metals & Mining Conference, Virtual (Oct 18-20)
    • Swiss Mining Institute Conference, Virtual (Nov 8-10)
    • Precious Metals Summit, Zurich (Nov 14-15)
    • Deutsche Goldmesse, Frankfurt (Nov 18-19)

Schriftgröße:  A A A A A