Updated HD Feasability Study Work to update the 2022 feasibility study for the Hammerdown Gold Project using the Pine Cove mill for future mineral processing has been ongoing since its acquisition in October of 2023.
The 2022 FS was based on the lower capacity Nugget Pond Mill which required signifucant capex costs to upgrade ....Pine Cove will reduce trucking from the HD mine by 90 km per trip resulting in significant reduction in ore transport costs.
Pine Cove mill capacity is twice that of Nugget Pond and it has resumed lite operations to process stockpile and gold fines from the tailings
A fully permitted in-pit tailings storage facility is located adjacent to the mill with over 3.9 million cubic metres of storage capacity, sufficient for 13 years of potential production.
The updated feasibility study seeks to include two additional deposits, Orion and Stoger Tight, to extend the project life beyond Hammerdown.
Final major permitting for Hammerdown mine was received in early Q1 of 2024 .
The geological model developed for the 2022 FS was such that new assay results collected in late 2022 and early 2023 could be quickly imported for updated reserves and resources .
I presume that a preliminary updated FS might be available for the three major roadshows beginning in early May.
The 2022 FS had an IRR of 58% which is in the top 10% of FS studies arising from my research.
The updated FS should be significantly higher especially as the 2022 assumed $1750 POG and cost of Nuggett Pond upgrades wont be needed..
FWIW..