Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
P2 Gold (TSXV: PGLD) has updated the preliminary economic assessment for its wholly owned Gabbs gold-copper project in the Walter-Lane trend in Nevada.
The study gives the project a lifetime production of 1.86 million oz. gold equivalent (1.2 million oz. of gold, 1.7 million oz. of silver, and 327 million lb. of copper). Average annual gold equivalent output will be 139,000 oz. at spot metal prices.
The estimated pre-production capital cost, including contingencies, is $277.7 million, with payback of 3 years. The life of the mine will be 13.4 years.
The updated PEA gives Gabbs an after-tax net present value with a 5% discount of $292.2 million and an internal rate of return of 17% using prices of $1,918/oz. gold, $23.01/oz. silver and $3.73/lb. copper.
A conventional open pit mine is planned. Ore containing cyanide soluble copper will be heap leached. Oxide and sulphide ores will be processed to create a saleable copper concentrate containing silver and gold doré bars. Dry stacking is planned for the tailings.
