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Unigold Delivers Positive Feasibility Study for Candelones Oxide Project
52% Pre-Tax Internal Rate of Return (“IRR”), 44% After-Tax IRR AISC of US$829/oz Au Feasibility Study assumes 5,000 tonnes per day (“tpd”) run-of-mine heap leac
About this update from Unigold Inc.
[{"type":"text","content":" 52% Pre-Tax Internal Rate of Return (“IRR”), 44% After-Tax IRR AISC of US$829/oz Au Feasibility Study assumes 5,000 tonnes per day (“tpd”) run-of-mine heap leach operation Average annual payable gold production of 31,400 oz Initial capital expenditure (“Capex”) of US$36 Million (includes US$8 Million for EPCM, owner’s, indirect costs and contingency) US$38 Million Pre-Tax Net Present Value (“NPV5”), US$30 Million After-Tax NPV5 Average annual after-tax free cash flow of US$23.8 Million Average blended gold recovery of 85%; total cash cost of US$14/tonne treated Creation of approximately 140 direct jobs and 50 indirect jobs during operation TORONTO, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD; OTCQX: UGDIF; FSE:UGB1) is pleased to provide results of an independent Feasibility Study (“the Study”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (\"NI 43-101\") on the Company’s 100% owned Candelones Oxide Project in the Dominican Republic. Gordon Babcock, Chief Operating Officer notes: “The Feasibility Study has enhanced the economics as compared to the Company’s April 2021 Preliminary Economic Assessment (PEA). While inflation did have an impact, we were able to realize savings by identifying local suppliers and contractors for many of the cost centers. The Capital and Operating costs increased 4% relative to the PEA estimates. Metallurgical recoveries increased by 10% reflecting changes in ore handling and stacking. Recovered ounces increased by 7,400 ounces relative to the PEA due to improved metallurgical recovery assumptions. The net result describes a low-cost, low impact open pit heap leach mining operation capable of producing 31,000 ounces of gold annually. Our consulting team has done an outstanding job in streamlining the design to minimize capital and operating cost increases. Our exploration drilling of the oxide resource successfully converted 93% of the 2021 inferred resource to the measured and indicated classification, facilitating conversion to proven and probable reserves. Joseph Hamilton, Chairman and CEO of Unigold notes: “The delivery of this feasibility study is a key deliverable for the Company for 2022. The Feasibility Study met our expectations, and our team was able to deliver a low-cost starter pi...