Premier Announces PEA Results on the Cove Project May 15th, 2018 View PDF After-tax NPV5 of $143.0M & 48% IRR
All figures are in United States of America dollars unless otherwise stated.
PREMIER GOLD MINES LIMITED (TSX: PG) (“Premier”, “the Company”) is pleased to announce the Preliminary Economic Assessment (“PEA”) of its 100% owned Cove Project (the “Project”) located near Battle Mountain, Nevada.
Highlights of the PEA results and life-of-mine plan (“LOM”) include:
After-tax NPV5 of $143.0 million, and an after-tax internal rate of return (“IRR”) of 48% Average operating costs of $199/ton, Cash Cost of $788/oz Au and All-in Sustaining Cost (AISC)(i) of $897/oz Au Indicated mineral resources of 1,045,000 tons at 0.327 oz/t Au and 0.861 oz/t Ag for 342,000 ounces of gold and 900,000 ounces of silver Inferred mineral resources of 4,032,000 tons at 0.328 oz/t Au and 0.609 oz/t Ag for 1,322,000 ounces of gold and 2,457,000 ounces of silver Metallurgical recoveries of 82.7% for gold and 21.6% for silver LOM gold production of 740,000 ounces during 8 years of operations Average LOM annual gold production of 92,400 ounces LOM capital cost of $114.4 million after pre-development costs of $25.8 million Mine construction capital of $46.6 million After-tax payback period of 4 years
Premier Gold Mines Limited (TSX:PG): A Rapid Growing Low-Cost Gold Producer with a High-Quality Pipeline in Safe Mining Jurisdictions, Ewan Downie, President and CEO Interviewed By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, US
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