US Gold Blasted-Off following this PFS!
Or, was it because Leanne Baker´s on their Board?
Humm? Can you imagine if Tyhee comes out with this kind of tiny Pre-Feas.? OMG!
I guess it´s who you know. Webb knows Leanne, but he hasn´t shared those private conversations with me. I think they´ve been shredded.-Sorry Strike.
.................................................................................................
TORONTO, ONTARIO, Apr 16, 2010 (Marketwire via COMTEX) ----US GOLD CORPORATION (NYSE Amex:UXG)(TSX:UXG) is pleased to announce results of a Preliminary Economic Assessment ("PEA") for its 100% owned Gold Bar Project in Nevada. Results demonstrate favourable economic returns at the current gold prices. Highlights are as follows:
GOLD BAR PROJECT HIGHLIGHTS
(All amounts in US dollars, Assumes $850 gold price)
-- Projected annual production of approximately 57,000 ounces of gold over
a 6 year mine life (total 345 thousand ounces), at an estimated cash
cost of $557 per ounce (oz).
-- Pre-tax discounted Net Present Value (NPV) of $28.1 million at $850 per
oz gold and 6% discount rate, giving an Internal Rate of Return (IRR) of
21%. Based on today's gold price ($1150 per oz) the NPV and IRR increase
to $104.8 million and 60%.
-- Estimated initial capital expenditure of $38.2 million, life-of-mine
(LOM) capital expenditure of $47.3 million, and pay-back period of 4.7
years at $850 per oz gold, or 2.9 years based on today's gold price
($1150 per oz).
