American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Outstanding Value Demonstrated by Prefeasibility Study Outcomes for the Lady Julie Gold Project

by admin March 13, 2024
March 13, 2024
Outstanding Value Demonstrated by Prefeasibility Study Outcomes for the Lady Julie Gold Project

Magnetic Resources NL (Magnetic or the Company) is pleased to announce the results of a Prefeasibility Study( PFS) on its 100% owned Lady Julie Gold Project (Project), situated in the Laverton, Western Australia gold region. The outcomes of the study show a technically and financially robust Project.

PFS Highlights:

Confirming a financially robust Project with low-cost, high margin gold production of 720,000 oz (averaging 87,000 oz/year) over a 9-year life of mine (LOM).Pre-tax IRR of 85% at A$2,800/oz, increasing to 108% at the current spot price of A$3,100/oz.Total EBITDA of A$982M at A$2,800/oz, increasing to A$1,191M at the current spot price of ~A$3,100/oz.Life of mine average C1 (operating) cost of A$1,434/oz and AISC of A$1,445/oz, including sustaining capital of $8M.Pre-tax NPV8 of $547M at A$2,800/oz, increasing to A$690M at the current spot price of ~A$3,100/oz.Payback period of 15 months from production.Open pit Mining inventory of 13.6Mt @1.78g/t Au, containing 773,700oz gold. Total life of mine production includes approximately 77% Indicated and 23% of Inferred Mineral Resource, with the initial 5 years of production from the Indicated Resource.Development capital of A$93.4M (including 15% contingency provision for the plant cost estimate), assuming a standalone 1.8 Mtpa processing plant and 3 months pre-production activities.Cost estimates have been based on the current inflationary environment and supported by industry quotes for personnel, equipment and consumable unit costs. Plant capital is based on 2021 P&ID level quotes updated to present.A Mining Proposal will now be prepared and submitted to advance a further mining lease application and regulatory approval to allow for mining.The PFS is shown at the end of this ASX Release.

Commenting on the PFS outcomes, Magnetic’s Managing Director, George Sakalidis, said:

“The excellent PFS outcome demonstrates that Magnetic’s Lady Julie Gold Project is one of the highest margins, undeveloped gold projects in Australia. The Project’s low-cost profile and strong financial return metrics are primarily driven by the extraordinary near-surface, high-grade nature of the Lady Julie Central and Lady Julie North 4 deposits. This low-cost profile places the Project in the bottom half of the cost curve of gold producers in Australia.”

“The PFS focuses on mining the Indicated and Inferred resources of Lady Julie North 4, Lady Julie Central and Hawks Nest 9. Lady Julie North 4 is by far the largest contributor to the study producing over 11.5Mt of ore during its operation.”

“Further refinement of the Project’s economics will be carried out in 2024 with scope to further improve the economics of the Project from boosting process recoveries and modifying processing scenarios. More significantly, potential exists to further increase production and mine life estimates from the inclusion of resources drilled since the last update provided in November 2023. The Magnetic team has been very successful in defining new targets and making new discoveries with recent deep drilling confirming the resource continuity below Lady Julie North 4. 2024 promises to be a very exciting year for the Company”.


Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Jindalee Spin-Out Dynamic Metals Signs $20M JV with Mineral Resources
next post
Fireweed Upgrades to Trade Shares on the OTCQX Best Market

Related Posts

Trailbreaker Resources Receives Exploration Permit for Swan Target...

May 7, 2024

Uranium Price Update: Q2 2024 in Review

July 25, 2024

5 Silver Stocks that Pay Dividends (Updated 2024)

May 15, 2024

GBP/USD forecast: sterling outlook after the BoE, Fed...

December 20, 2024

Pure Life Healthcare Management

April 24, 2024

Best crypto tokens to buy for 50x gains...

January 20, 2025

Toro Energy

April 18, 2024

Beyond Lithium

February 7, 2024

Platinum Price Update: H1 2024 in Review

July 30, 2024

Solana price prediction: here’s why SOL is crashing...

May 30, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,199)
    • Investing (2,531)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved