Business
Updated PEA & Strategic Review of Canadian Assets
Updated PEA & Strategic Review of Canadian Assets.
About this update from Landore Resources Limited
[{"type":"text","content":"\n \n \n This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No 596/2014.\n \n \n \n \n \n \n LANDORE RESOURCES LIMITED\n \n \n \n \n (AIM Ticker: LND.L)\n \n \n \n \n \n TECHNICAL REPORT AND PRELIMINARY ECONOMIC ASSESSMENT OF\n \n \n \n \n THE BAM GOLD DEPOSIT\n \n \n \n \n AND\n \n \n \n \n STRATEGIC REVIEW OF CANADIAN ASSETS\n \n \n \n \n \n \n \n London, United Kingdom 9th May 2022 - Landore Resources Limited (AIM:LND)\n \n (\"Landore Resources\" or \"the Company\") is pleased to confirm that, further to the Company's announcement on 8th February regarding a Mineral Resource Estimate update, Cube Consulting Pty Ltd has now completed a Technical Report and Preliminary Economic Assessment (\"PEA\") on the BAM Gold Project,\n Junior Lake Property, Ontario, Canada (\"BAM Gold Project\").\n \n \n In addition, Landore Resources confirms that it has commenced a review of the strategic options available to the Company in relation to its Canadian subsidiary/assets (the \"Strategic Review\").\n \n \n \n \n \n \n Technical Report and PEA Highlights:\n \n \n \n \n \n \n \n \n ·\n \n The Mineral Resource Estimate of the BAM Gold Project at a 0.3g/t cut-off is: 49,231,000 tonnes (t) at 1.0 grams/tonne (g/t) for 1,496,000 ounces of gold (oz Au) including 30,965,000t at 1.0g/t for 1,029,000 ounces gold in the Indicated Category.\n \n \n \n \n \n \n \n \n ·\n \n The PEA considers the economics of exploiting resources inside optimised pit shells of 22.4 Mt at 1.16g/t Au containing 833,000 ounces gold using a long term gold price of US$1,800. The project assumes the construction of a 2.2 Mt per annum processing plant over 4 quarters followed by a production period of 10.5 years.\n \n \n \n \n \n \n \n \n ·\n \n The PEA indicates that the BAM Gold Project generates a pre-tax and post-tax NPVS of, respectively, US$333.6M and US$231.2M and pre-tax and post-tax real IRRs of 87.4% and 66.7%. The BAM Gold Project has an after-tax simple pay back of 1.25 years from the start of production or 2.25 years from the start of project.\n \n \n \n \n \n \n \n \n \n Strategic Review:\n \n \n \n \n \n \n \n \n ·\n \n In light of the significance of the BAM Gold and Battery Metals deposits located on the Junior Lake property, as announced in the Co...