Post by
ukermann on Oct 05, 2020 6:59am
Neighborhood News: Teranga
Golden Hill resource upgrade to approx 1.5 million oz, indicated and inferred. As they continue to explore, a very important statement made by TGZ management:
“Drilling and preliminary engineering work to date confirms the potential for a high-grade open pit gold mine at Golden Hill. As a result, we expect to submit a mine license application in the fourth quarter,” said Richard Young, President and CEO. “We expect to spend approximately $15 million on our resource expansion program at Golden Hill through the end of 2021 in order to reach our goal of outlining a resource of between 2 and 3 million ounces of gold. Despite today’s higher gold prices, our hurdle rate for new projects remains at achieving an internal rate of return of 15% at $1,300 gold, and Golden Hill’s development will be conditional on meeting or exceeding that threshold.”
Comment by
mercedesman on Oct 05, 2020 8:05am
So would you now agree that both EDV and TGZ are both potential natural acquirers of SWA? Would give TGZ a combined target of over 3million oz with good grades and the appropriate ROI Nothing like a little healthy competition. MM