Dateline Resources Limited (ASX:DTR) Announces Progress on Colosseum Gold Project
Dateline Resources Limited (ASX:DTR) has announced significant advancements in its Colosseum Gold Project located in California, USA. The recent scoping study reveals promising production estimates and a strong financial outlook, positioning the project for the next development phases.
Project Developments
The scoping study, released in October 2024, forecasts the production of 635koz gold over an 8.4-year period using open pit mining. With a conservative gold price assumption of US$2,200/oz, the project is expected to generate a net revenue of US$398 million (A$642M) and an NPV of US$235 million (A$379M) with an IRR of 31%. The project is now moving to the Project Selection Stage, followed by the commencement of a Bankable Feasibility Study (BFS) in Q1 2025.
Waste Material Potential
During the scoping study phase, Dateline Resources identified a significant opportunity to utilize waste material and tailings sands as aggregate and sand for the high-demand concrete sector in Nevada and southern California. This initiative aims to increase project value while reducing environmental impact. Initial tests have shown that the aggregate meets required specifications, and further studies are planned for the current quarter.
Financial Performance
Dateline Resources maintains a strong capital structure with 1.45 billion shares issued. The top 20 shareholders hold 63.8% of the shares, while the board and management hold 33.9%. The company has secured US$153M (A$247M) in pre-production capital and working capital, ensuring robust financial support for the project’s progression.
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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