17/07/2019 - 14:52

Calidus PFS reveals $95m Pilbara gold project

17/07/2019 - 14:52

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The pre-feasibility study of Calidus Resources’ Warrawoona gold project in the Pilbara has detailed a $95 million capital cost.

David Reeves says the project has substantial potential for growth in the inventory and mine life.

The pre-feasibility study of Calidus Resources’ Warrawoona gold project in the Pilbara has detailed a $95 million capital cost.

The project is set to produce an average of 97,000 ounces per annum at an all-in sustaining cost of $1,159/oz.

The project has a six-year mine life with a maiden probable reserve of 418,000oz.

The PFS detailed a life-of-mine cash flow of $367 million.

Warrawoona will require a 12-month processing plant construction, infrastructure and mine development pre-production phase before it is operational.

Calidus managing director David Reeves said the project had substantial potential for growth in the inventory and mine life.

“We have deliberately taken a conservative approach to the modifying factors applied to the anticipated mined grade because this is the highest sensitivity in any project,” he said.

“We will undertake systematic drilling in the next quarter to further improve our knowledge of the orebody as another step in the de-risking process.”

Shares in Calidus closed flat at 3.1 cents each.

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