PERTH (miningweekly.com) – An independent valuation by GEOS Mining has found that the Copper Hill copper/gold project, in New South Wales, is worth an estimated preferred A$14.4-million.
Project owner Golden Cross Resources said on Thursday that the project’s worth had been estimated at between A$7.6-million and A$26.5-million, which was up from the 2015 valuation of between A$10-million and A$14.5-million, with the preferred valuation at the time being A$13.2-million.
The increased valuation resulted from improved commodity prices, which has seen the price of both copper and gold increasing, while the weighting for discounted cash flow was increased due to the current resurgence in metal prices and improved outlook for projects like Copper Hill.
The Copper Hill project is estimated to contain some 310 000 t of copper and 890 000 oz of gold, with a 2015 scoping study estimating that a two- to three-million-tonne-a-year operation could be developed at capital costs of between A$130-million and A$163.5-million.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
ARTICLE ENQUIRY
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
