THE BOURSE WHISPERER: Gold Road Resources (ASX: GOR) executive chairman Ian Murray had a spring in his step at breakfast on the first morning of the Diggers & Dealers Conference in Kalgoorlie.
His swagger probably had a lot to do with the company announcing it has completed Stage 1 of a two‐part Pre‐Feasibility Study being carried out for the development of the company’s 5.5 million ounce Gruyere gold project, located near Laverton in Western Australia.
Gold Road explained the Study had focussed on Option Studies for the project to determine the best go‐forward case to complete the PFS.
The scenario to emerge is a large‐scale open‐pit mine utilising a conventional 7.5 million tonnes per annum gravity/Carbon In Leach (CIL) processing facility powered by a pipeline‐supplied, gas‐fired power generation plant, for an initial life of mine of 10 to 15 years.
The company said the full PFS, including modelling of capital and operating costs, remains on schedule for completion in the March 2016 quarter.
Source: Company announcement
“The detailed work that our team has undertaken allows us to confidently determine that the best option for Gruyere is a production rate of 7.5 million tonnes per annum, using a SABC circuit, combined with gas delivered by pipeline as the preferred fuel source for power,” Gold Road Resources executive chairman Ian Murray said in the company’s announcement to the Australian Securities Exchange.
“Since completion of the Scoping Study the Gruyere Gold Mineral Resource has grown by 44 per cent.
“This has allowed the Study Team to examine higher throughput scenarios in the range of five million tonnes per annum through to 10 million tonnes per annum.
“With the upgrade of the Gruyere Resource, we are pleased to report that the Gruyere project has the critical mass to support the larger scale 7.5 million tonnes per annum operation over a longer mine life.
“Having established these Study parameters, our expanded Study Team is progressing the Gruyere project PFS, which remains on schedule to be completed in the March 2016 quarter.”