Post by
Zibo510 on Sep 03, 2024 11:18pm
GMIN
GMIN just began commercial production of their Brazil open pit gold mine, this is probably the best comparable to LGC as mine construction costs and operating costs should be very similar since both are in the same country.
GMIN built the mine for app. 500K and their all in sustaining cost is under 700.00 an ounce. The feasibility Study done in 2022 was based on 2.1 million oz with gold priced at 1600 oz.
With gold now at 2500 oz. If between Butia and FDP we have 1.5 million oz that would be 3.75 billion at today's gold prices which should easily support developing a mine.
As well GMIN claims are accessible by a 74 kilometer dirt road, where as the LGC claims are much closer to infrastructure, as well Lavras do Sol has a population of 7500 and is right next door to the LGC claims and might provide a good portion of mine labor.
So if the updated Butia RE and FDP RE are around 1.5 million ozs or better, we should be in the mining business, and we should know soon, exciting times.
Comment by
nozzpack on Sep 04, 2024 1:39pm
Yes, from those 2 million ounces at 1.31 grams per ton, the after tax NPV 5 was $622 million US at $1600 US POG . Thats about $850 million in CAD. Use $2300 POG and the after tax NPV 5 would be about $1.3 billion CAD for those 2 million ounces.