Block 14 Feasibility Study
Feasibility Study Summary at a Gold Price of US $1,200/oz*
| Probable Reserves | 79.94Mt @ 1.11g/t for 2.85 Moz | |
| Average Annual production: | ||
| First 7 Years | 5.8Mtpa @ 1.49g/t averaging 228,000oz Au/year | |
| Life of Mine (“LOM”) | 167,000oz Au/year | |
| Mine Life | 13.6 years | |
| Production Costs: | Yrs 1 - 7 | LOM |
| Cash Costs | $689/oz | $707/oz |
| All-in Sustaining Costs (“AISC”) | $789/oz | $783/oz |
| After-Tax Net Present Value (“NPV”) Discount rate: 5%; Gold Price: $1,250/oz |
$403 million | |
| After-Tax Internal Rate of Return (“IRR”) | 24.2% | |
| Payback Period | 3.9 years | |
| Pre-Production Capital | $328 million | |
| Sustaining Capital | $181 million | |
| FINAL PERMITTING | In Progress | |
Note: All amounts stated are in US Dollars; Economic parameters are shown on a 100% basis. See Company news release dated November 7, 2018
