Following last month’s announcement of the
sale of Premier Gold Mines to Equinox Gold, Premier has released an updated preliminary economic assessment for its McCoy-Cove property in Nevada. The past-producing asset will be part of
i-80 Gold, a U.S.-focused spin-out with shares of this new company distributed to Premier’s existing shareholders.
The latest PEA suggests an eight-year, 1,070 t/d underground mine at McCoy-Cove, producing an average of 102,000 gold oz. annually at all-in sustaining costs of US$948 per oz. With mine construction capital costs pegged at US$81.9 million and assuming a US$1,400 per oz. gold price, the after-tax net present value estimate for the project comes in at US$178 million, at a 5% discount rate, with a 36% internal rate of return.
Premier updates PEA for ‘cornerstone asset’ McCoy-Cove
The McCoy-Cove project. Credit: Premier Gold Mines.
Following the announcement last month of the sale of
Premier Gold Mines (TSX: PG) to
Equinox Gold (TSX: EQX; NYSE-AM: EQX), Premier has released an updated preliminary economic assessment for its McCoy-Cove property in Nevada. The past-producing asset will be part of
i-80 Gold, a U.S.-focused spin-out with shares of this new company distributed to Premier’s existing shareholders.
The latest PEA suggests an eight-year, 1,070 tonne per day underground mine at McCoy-Cove, producing an average of 102,000 gold oz. annually at all-in sustaining costs of US$948 per ounce. With mine construction capital costs pegged at US$81.9 million and assuming a US$1,400 per oz. gold price, the after-tax net present value estimate for the project comes in at US$178 million, at a 5% discount rate, with a 36% internal rate of return.
Source:
Streetwise Reports (1/12/21) Nomad Royalty, founded by three veterans in the royalty and streaming sector, has been quickly adding assets.
Nomad Royalty Company Ltd. (NSR:TSX; NSRXF:OTCQX) only began trading publicly in May, but it has amassed a portfolio of 14 royalty and streaming assets, including one that was announced yesterday. Six of Nomad s assets are already producing.
Vincent Metcalfe, Joseph de la Plante and Elif Lévesque, colleagues at Osisko Gold Royalties, joined together to establish Nomad. Metcalfe serves as CEO, de la Plante as CIO and Lévesque as CFO.
Royalty and streaming portfolios from Orion Mine Finance and Yamana Gold were vended in, forming the backbone of Nomad s portfolio. Both companies accepted shares as payment for the royalties and streams, and are now the company s top two shareholders.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Equinox Gold Reports Record Production with 136,400 Ounces of Gold Produced in Fourth Quarter
January 11, 2021 GMT
all dollar figures are in US dollars, unless otherwise indicated
VANCOUVER, BC, Jan. 11, 2021 /PRNewswire/ - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce that it exceeded 2020 revised guidance, producing 477,200 ounces (“oz”) of gold for the year. Production for Q4 2020 totalled 136,400 oz of gold, including gold poured during commissioning and ramp-up at Castle Mountain. Full financial and operating results will be reported in early March.