Dundee Precious Metals releases PFS on $211m open pit at Timok
Chelopech mine. Credit: Dundee Precious Metals
Toronto-based gold and copper producer Dundee Precious Metals (TSX: DPM) has announced the results of a prefeasibility study on its Timok gold project in Serbia, with board approval to go ahead with a feasibility study.
The latest engineering study outlines an 8-year, approximately 6,925t/d heap leach open pit mine, producing an average of 80,000 gold oz. annually in its first six years of operation. All-in sustaining costs are estimated to average $693 per oz. over the life of the mine, with $211 million required in initial capital. Using a gold price assumption of $1,500 per oz., the after-tax net present value estimate for this development stands at $135 million, with a 21% internal rate of return.
Dundee Precious Metals releases PFS on US$211M open pit mine at Timok
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Dundee Precious Metals releases PFS on US$211M open pit mine at Timok - Canadian Mining Journal
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