The OceanaGold Corporation
(ASX:OGC) has announced the results of its Preliminary Economic Assessment on a potential underground operation at its Haile Gold Mine.
The company’s gold mine in South Carolina, in the United States, is expected to generate after-tax, undiscounted cash flow of US$861 million from 2019.
OceanaGold is also expecting to produce, on average, 80,000 to 100,000 ounces of gold from the underground mine between the years 2019 and 2025. This is in addition to the 150,000 ounces of gold per year that it expects to produce from the open pit for 18 years – from 2017 to 2030.
The company also says the payback period for its underground capital expenditure will be 3 years.
OceanaGold reported a net profit of $72.6 million at 31 December 2015.
