Lady Julie gold project, Australia
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Name of the Project
Lady Julie gold project.
Location
Eastern Goldfields region of Western Australia.
Project Owner/s
Emerging gold producer Magnetic Resources.
Project Description
A feasibility study has confirmed Lady Julie as one of the highest-margin undeveloped gold projects in Australia.
The operation comprises three openpits – LJN4, Lady Julie Central and Hawkes Nest 9 – an underground mine and a dedicated 2.75-million-tonne-a-year gold processing plant with all associated services and facilities.
Gold production will average 140 000 oz/y over its nine-year mine life when at full production; the plant and facilities will be designed with this timeframe in mind. Life-of-mine production is estimated at 1.02-million ounces.
The project will further require the development of a 20 MW (gas/solar) power station and bore fields for process water.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value (NPV), at an 8% discount rate, of A$970-million and an internal rate of return (IRR) of 45%, assuming a gold price of A$4 000/oz.
This increases to an NPV of A$1.67-billion and an IRR of 66% at A$5 145/oz of gold. Payback is estimated at about 30 months.
Capital Expenditure
Initial capital costs are estimated at A$375-million.
Planned Start/End Date
Project construction is expected to take about two years.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
Not disclosed.
Contact Details for Project Information
Magnetic Resources, tel +61 89226 1777 or email info@magres.com.au.
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