Asia
Austral Gold Reports Over $192 Million After-Tax NPV for Chile Mine in Updated Life-of-Mine Plan; Shares Tumble 8%
Austral Gold (ASX:AGD) reported an after-tax net present value of $192.1 million at a 10% discount rate and a four-year mine life under its updated mineral reserve and mineral resource estimate and new life-of-mine plan for its Guanaco Mine in Chile, according to a Thursday Australian bourse filing.The company said proven and probable mineral reserves stand at 18.1 million tonnes grading 0.84 grams per tonne gold (g/t) and 5.43 g/t silver, containing about 352,000 ounces of gold and 1.49 million ounces of silver, estimated at $2,200 per ounce gold and $25 per ounce silver.Average life-of-mine metallurgical recovery is 72% for gold and 47% for silver, with the all-in sustaining cost of $2,114 per ounce gold equivalent and operating cost of $1,978 per ounce gold equivalent, the filing added.Life-of-mine capital expenditure is $13.9 million, comprising $2.2 million sustaining and $11.7 million for closure and reclamation, it added.The company's shares tumbled 8% in recent Thursday trade.
ASX:AGD