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AFRICAN AURA MINING INC. - PRELIMINARY ECONOMIC ASSESSMENT ON NEW LIBERTY GOLD PROJECT
AFRICAN AURA MINING INC. - PRELIMINARY ECONOMIC ASSESSMENT ON NEW LIBERTY GOLD PROJECT
About this update from Affinity Metals Corp
[{"type":"text","content":"\n\n\n\n Dec. 14, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US\n NEWS WIRE SERVICES\n\n\nTSX-V: AUR\nAIM:  AAAM\n\n\nLONDON, England, Dec. 14 /CNW/ - African Aura Mining Inc. ("African\n Aura" or the "Company"), the TSX-V (AUR) and AIM (AAAM) listed\n exploration and development company is pleased to announce the\n completion of the preliminary economic assessment study (the 'Study')\n with respect to the Company's 100% owned New Liberty Gold Project\n located in western Liberia.\n\n\n\nStudy highlights potential for robust open pit gold mine with strong\n economics\n\n\nFirst five year's production with minimum 100,000oz pa in initial 8.5\n year mine life\n\n\nPre-tax NPV of $234m (£148m) based on $1,100/oz Au and 10% discount rate\n\n\nInitial capex of $92m, average cash cost of $484/oz and head grade of\n 3.6 g/t Au\n\n\nIRR of 73% and capital payback in under two years\n\n\nDefinitive Feasibility Study underway and on track for 4Q 2011\n completion\n\n\n\nLuis da Silva, Chief Executive of African Aura, commented:\n\n\n"These very positive results demonstrate the robust nature of the New\n Liberty Gold Project and confirm our long held belief on the excellent\n grade potential of the ore zone for the open pit mine. It is worth\n highlighting that the pre-tax NPV of the project calculated using a\n gold price of $1,100/oz and 10% discount of $234m / £148m equates to...