Tectonic gold project to cost $125m

Victoria Park-based Tectonic Resources says it Phillips River gold-copper project near Ravensthorpe will cost $125 million to develop.

The company today released results from an independent scoping study, which found the project could generate $823 million in revenue and $283 million in net cash over the life of the mine, which is estimated at 7.5 years.

Annual production has been pegged at 800,000 tonnes.

The project contains 750,000 ounces of gold and 85,000 tonnes of copper.