Resolute Mining Ltd
(ASX:RSG) has completed the feasibility study for its Ravenswood Expansion Project in Queensland.
According to the company, the study confirms that: (a) its Ravenswood gold project has another 13 years of life (until the year 2029 at least), (b) it will produce 120,000 ounces of gold on average each year, and (c) the All-In-Sustaining cost for the life of the mine is $1,166 per ounce.
Resolute Mining also says Ravenswood’s total ore reserves have increased to 1.8 million ounces.
As for capital expenditure, the company says it should only be $134 million for pre-stripping and the staged processing plant expansion to 5 million tonnes per annum.
Resolute Mining posted a net profit of $212.9 million at 30 June 2016.
