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We are pleased to present
BLG s review of key developments in British Columbia and
federal environmental law. The COVID-19 pandemic,
reconciliation with Indigenous peoples, climate change, and
jurisdictional disputes are key issues that have shaped
environmental law in British Columbia and across Canada this past
year.
Looking back at 2020 and early 2021, we have highlighted the
most significant judicial decisions, regulatory decisions,
legislative changes, and policy developments, as well as how these
decisions may affect your business in 2021 and beyond. Disputes
over natural resource projects, contaminated sites, environmental
Osisko PEA outlines ‘highly profitable’ gold mine at Windfall in Quebec April 7, 2021
Commodities
A preliminary economic assessment (PEA) on
Osisko Mining’s (TSX: OSK) Windfall project in Quebec’s James Bay region outlines a 3,100 t/d two-ramp underground mine with a process facility that would produce an average of 238,000 gold oz. a year over an 18-year life. The gold development company is targeting first production from the gold deposit by 2024.
In its first seven years, Windfall would generate an average of 300,000 gold oz. annually at all-in sustaining costs of US$610 per oz., producing a peak of 328,000 oz. in year six. Based on an initial capital outlay of $544 million that includes contingency, the after-tax net present value estimate for the project comes in at $1.5 billion, using a 5% discount rate and US$1,500 per oz. gold, with a 39.3% internal rate of return and a 2.2-year payback.
Osisko releases PEA on ‘highly profitable’ gold mine at Windfall in Quebec
Windfall portal. Credit: Osisko Mining
A preliminary economic assessment (PEA) on Osisko Mining’s (TSX: OSK) Windfall project in Quebec’s James Bay region outlines a 3,100 t/d two-ramp underground mine with a process facility that would produce an average of 238,000 gold oz. a year over an 18-year life. The gold development company is targeting first production from the gold deposit by 2024.
In its first seven years, Windfall would generate an average of 300,000 gold oz. annually at all-in sustaining costs of $610 per oz., producing a peak of 328,000 oz. in year six. Based on an initial capital outlay of C$544 million that includes contingency, the after-tax net present value estimate for the project comes in at C$1.5 billion, using a 5% discount rate and $1,500 per oz. gold, with a 39.3% internal rate of return and a 2.2-year payback.
Generation Mining feasibility defines 13-year open pit mine
A feasibility study from
Generation Mining (TSX: GENM) on its 80%-held Marathon palladium-copper project in northwestern Ontario suggests a 25,200 tonne per day open pit operation producing a copper-PGM (platinum group metal) concentrate for sale to an off-site smelter.
In its first three years of operation, the 13-year surface mine would generate a total of 588,000 palladium oz. and 122 million lb. of copper from an estimated 270,000 tonnes of shipped concentrate. Life-of-mine payable metals are estimated at 1.9 million palladium oz., 467 million copper lb., 537,000 oz. of platinum, 151,000 oz. of gold and 2.8 million oz. of silver.
With all-in sustaining costs pegged at US$809 per palladium-equivalent oz., and an initial capital cost assumption of $665 million, the after-tax net present value for the development is estimated at $1.1 billion with a 29.7% internal rate of return and a 2.3-year payback. These numbers are