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[posting]62150132[/posting]...with a Projected $2.1 Billion NPV and 30+ Year Mine Life 28.10.2019 https://www.morningstar.com/news/globe-newswire/7748305/hycr… ...Hycroft Mining Corporation (“Hycroft Mining”, “Hycroft” or the “Company”) is pleased to provide an update on developments at its wholly owned Hycroft Mine located near Winnemucca, Nevada. • Life of Mine Plan based on a robust third-party Feasibility Study completed by M3 Engineering and the Company, incorporating resources modeled by SRK Consulting (Reno, NV) (the “Feasibility Study”), for the Company’s proprietary sulfide oxidation and heap leach process resulting in a projected life-of-mine (“LOM”) net present value (“NPV”) of $2.1 billion (at a 5% discount rate), a LOM after-tax internal rate of return (“IRR”) of 147.5%, and a payback period of 2.6 years1; • Active mining operations commenced at the Hycroft Mine in the second quarter of 2019 with a focus on preparing the mine for the sulfide oxidation and heap leach process; • Existing crushing facility, Merrill-Crowe plant, refinery, and mobile mine fleet rebuilt, commissioned, and operating; • Hycroft’s current workforce totals 120 people and continues to grow, supported by contractors and temporary labor; • Company is in discussions with respect to a complete financial recapitalization plan to better position the Company for the successful ramp-up of the Hycroft mine and future growth, including the recent execution of a $110 million senior secured credit facility and an agreement for the purchase of a 1.5% net smelter royalty for $30 million arranged by Sprott Resource Lending Corp., conditioned upon agreement and completion of the full recapitalization plan; and • Company has all permits required for restart of the Hycroft Mine and recently received the Federal Record of Decision for the Phase II Environmental Impact Statement supporting the LOM pit development, and allowing for continued ramp-up and commencement of key growth projects necessary to achieve Feasibility Study production levels. Randy Buffington, President and CEO, stated “We are beyond excited to have restarted the Hycroft Mine and I would like to thank everyone that has made this possible. Our employees, vendors, community supporters, regulators, current shareholders, and board have all been key in getting Hycroft to where it is today. Hycroft’s Feasibility Study estimates average annual production of 366,000 gold equivalent2 ounces for 34 years. Projects like this are extremely rare, and, by bringing the mine into production, Hycroft can unlock its true value to become a world-class operation in a tier-one jurisdiction.” __ 1 The Feasibility Study is based on gold and silver selling prices of $1,300 and $17.33 per ounce, respectively. 2 Gold equivalent values are calculated using a 75:1 silver to gold ratio. ... |
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| aus der Diskussion: | Hycroft Mining -- ehemals Allied Nevada |
| Autor (Datum des Eintrages): | faultcode (13.12.19 10:33:18) |
| Beitrag: | 2 von 15 (ID:62150195) |
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