Bullion is holding the key $1,700 price level, however.

Total payable gold production would increase by 800,000 oz. and copper production by 191 million lb.

Bullion is now closing in on its 50-day moving average after surging Monday.

Average annual gold output will be 60,000 to 70,000 oz. in years one through four, and about 60,000 oz. annually over the life of the project.

The NICO project is an advanced development stage critical minerals asset that has already received environmental assessment approval.

Bullion kept its momentum going and extended its first weekly gain in three.