GHM estimates the project will employ about 500 people and contribute up to $550 million dollars in federal and provincial taxes, $210 million in British Columbia Mining Act tax, and $110 million in municipal taxes.
Shares in the Africa-focused diamond miner climbed almost 6% after it revealed the Mothae kimberlite project in Lesotho may be more profitable than previously assumed.
Barring a gold price fall, Sabina now has the potential to re-rate its share price and finance the lower-capex Back River, which we believe a major will ultimately snap up.