Nice PEA on RR. WHen are they buying us out?
HIGHLIGHTS OF THE UPDATED PRELIMINARY ECONOMIC ASSESSMENT
First 10 Years of Production:
- Average annual production of 308,000 gold ounces and 478,000 silver ounces.
- Average mill head grade of 1.45 g/t of gold, an increase of 50% over the first PEA.
- Average open pit grade improves by 39% to 1.25 g/t of gold with stockpiling of low grade material compared to the November 2011 PEA open pit grade of 0.90 g/t of gold.
- Average underground grade improves by 19% to 4.20 g/t of gold compared to the November 2011 PEA underground grade of 3.52 g/t of gold.
- Average cash costs of US$486 per ounce gold (including royalties and net of silver credits).
- Operating strip ratio of 2.5:1 (excluding overburden and capitalized waste) compared to the November 2011 PEA operating strip ratio of 3.3:1.
- Processing throughput averaging 20,000 tonnes per day (tpd).
- Production is anticipated for early 1H/2016 for the open pit and 2H/2018 for the underground.