Getchell Gold Jumps 24% on Updated PEA Report For Fondaway Canyon Project in Nevada
Getchell Gold (GTCH.CN) up 24% on last look, on Tuesday reported "highly robust" results from a preliminary economic assessment (PEA) on its Fondaway Canyon gold project in Nevada that showed the site could support a $265.3-million mining project.The PEA calculated the mine could produce 1.52 million ounces gold over a 10.1-year mine life with average annual gold production of 150,000 ounces, both of which are a 28% jump over the 2025 PEA.The updated PEA also projects $1 billion pre-tax net present value discounted at 8% and a 58.8% pre-tax internal rate of return, a statement added.Getchell noted the PEA 's scope was limited to the open pit mineral resource in the Central Area of Fondaway, and did not include the Main Pit's underground mineral resource and the open pit mineral resources outside of the Central Area.Getchell Gold shares were up C$0.055 to C$0.285 on the Canadian Securities Exchange.Price: $0.30, Change: $+0.07, Percent Change: +28.26%
