Spanish Mountain Gold Ltd V.SPA

COTE LAKE GOLD DEPOSIT MOVING TO PRODUCTION

[Everett06]

The Iamgold 70%/Sumitomo Metal Mining 30% JV had voted to put the Cote Lake Gold Deposit into production on July 21, 2020.

Note that they are calling this "A WORLD CLASS DEPOSIT " located in Canada with an estimated gold resource of over 7 milion ounces and exploration potential.

                                                      @$1250/oz           @1350/oz        @1700/oz

LOM Recovered Gold                    6.69 mil oz        6.61 mil oz      6.61 mil oz
Production                                     372,000 oz         367,000 oz     367,000 oz
Average Grade                                0.98 g/t                0.98 g/t            0.98 g/t
AISC Per Ounce                             $703                    $771                $835
Mine Life                                          18 years              18 years          18 years
After Tax NPV(5%)                          $905 mil              $1121 mil        $2037 mil
After Tax IRR                                   15.4%                   15.3%               22.4%
Payback                                           4.4 years              3.7 years        2.6 years

HAVE A FEELING IN THE NEAR FUTURE, SPA MAY GO DOWN A SIMILAR PATH, WITH PARAMETERS LOOKING THE SAME OR BETTER.

The above data is abstracted from Iamgold's press release.