Antilles Gold Limited (ASX: AAU) Announces Nueva Sabana Pre-Feasibility Study Summary
Project Overview
Antilles Gold Limited has completed a Pre-Feasibility Study (PFS) for its Nueva Sabana copper-gold project, located in central Cuba. The study involved an updated Mineral Resource Estimate (MRE) leading to a maiden Ore Reserve estimate. The project is a joint venture between Antilles Gold and the Cuban state-owned Geominera SA.
Mining Plan and Financial Metrics
The study details a Life of Mine Plan (LOMP) estimating a total material movement of 8.7 million tonnes with a strip ratio of 2.95:1. The LOMP anticipates pre-tax net present value (NPV) of USD 68.0 million at a discount rate of 7.5%, with an estimated internal rate of return (IRR) of 100%.
A maiden Ore Reserve of 1.76 million tonnes has been declared, containing 0.5% copper and 1.5 g/t gold. The anticipated economic analysis indicates total costs for the project could reach USD 134.1 million, with net revenues estimated at USD 233.2 million from concentrate sales.
Metallurgical and Environmental Considerations
The planned processing includes conventional methods for a gold concentrate in the first 17 months followed by processing copper-gold concentrates. The initial production is projected to generate significant quantities of both metals. An Environmental Impact Study has been conducted, resulting in a full Environmental Licence granted on November 14, 2024.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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