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Goldrich Mining Releases Initial Assessment Report; Results Indicate Robust Project Economics of US$64 Million After-tax NPV and 139% IRR at $1,650 Base Case Gold Price
Goldrich Mining Releases Initial Assessment Report; Results Indicate Robust Project Economics of US$64 Million After-tax NPV and 139% IRR at $1,650 Base Case Gold Price.
About this update from Goldrich Mining Company
[{"type":"text","content":"SPOKANE, WA / ACCESSWIRE / June 11, 2021 / Goldrich Mining Company (OTCQB:GRMC) ("Goldrich" or the "Company") is pleased to announce the results of the independent Initial Assessment Report (the "IA") for the Company's Chandalar Mine in the Chandalar Gold District in Alaska. The IA was prepared by Global Resources Engineering ("GRE"), a widely-respected mining engineering firm in Denver, Colorado.Highlights - At $1,650 Base Case Gold Price:After-tax Net Present Value (NPV) (5%) of $64 million and Internal Rate of Return (IRR) of 139%$25 million in Undiscounted After-tax Net Cash Flow (NCF) generated by year two and $72 million generated in total.All-in sustaining costs of $799 per ounce of gold (Au)After-tax payback period of 1.3 years after start of commercial productionInitial mine life of 7 years with significant potential to extend lifespanProject also includes extensive additional upside with higher gold price and resource growth potentialDue to new amendments recently adopted by the SEC to modernize property disclosure requirements for mining registrants, the preparation of the IA allows Goldrich to disclose Measured, Indicated, and Inferred resources for the first time.Goldrich Chairman, Mr. William Orchow commented: "Goldrich's primary focus is the exploration and discovery of the hard-rock (lode) targets, while also working to build additional shareholder value by monetizing the adjacent placer assets that are derived from the lode targets. Despite challenges over the last five years, our continued focus on the bigger picture has resulted in what is now a significant milestone for Goldrich shareholders - a very strong base-case scenario that demonstrates a moderate initial capex expense and short payback period that will support a low-cost, high-margin gold operation in a politically secure jurisdiction."Added Company President and CEO, Mr. William Schara, "We are very pleased with the results of the IA, which underscores the substantial value accretion that Chandalar could bring to Goldrich and its shareholders. The new SEC disclosure rules now allow us, as a U.S. company, to disclose the gold resources we have already discovered at Chandalar. Notably, the report's price sensitivity analysis shows that at recent gold prices around $1,900/ounce, the after-tax cash f...