Minerals 260's Prefeasibility Study Shows Around Industry Average Costs for Western Australia Gold project, Euroz Hartleys Says
MT Newswires Live
Jul 09
Minerals 260 (ASX:MI6) is set to have a lower risk open pit, with the prefeasibility study for its Bullabuling gold project in Western Australia showing around industry average costs, with all-in sustaining cost assumed to be AU$2,506 per ounce, Euroz Hartleys said in a note on Wednesday.
This is due to its low life-of-mine strip ratio, assumed to be at 4.9:1, and economies of scale with a 7.5 million tonnes-per-annum processing capacity.
Recent drilling has shown potential production beyond the current forecast of around 210,000 ounces per annum. Euroz Hartleys expects first gold in 2029.
The investment firm maintained its speculative buy recommendation on Minerals 260 and placed its AU$1.13 per share price target under review.
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