Name of the Project
Murchison gold project.

Location
Murchison region, Western Australia.

Project Owner/s
Australia-based Meeka Metals.

Project Description
Murchison has an initial probable ore reserve of 4.1-million tonnes grading at 3.1 g/t gold for 410 000 oz.

A feasibility study has outlined an operation with gold production of about 80 000 oz/y over the first eight years, with peak production of 103 000 oz in Year 6.

Recovered gold production over 9.3 years – eight years mining, 1.3 years stockpile processing – is estimated at 663 000 oz.

The project is based on the development of a standalone, one-million-tonne-a-year carbon-in-leach processing facility.

The mineral resources that support the planned mines remain open at depth, with strong opportunity to grow.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $249-million at $2 750/oz and $371-million at $3 000/oz. The internal rate of return is estimated at 40% at $2 750 and 56% at $3 000/oz.

Payback, following process plant commissioning, is estimated at $2 750/oz at 22 months and $3 000/oz at 16 months.

Capital Expenditure
Preproduction capital is estimated at A$137-million.

Planned Start/End Date
First gold is targeted for 2025.

Latest Developments
Meeka Metals has started its transition from gold project developer to producer, with commissioning of its Murchison project under way.

Ore is being fed into the processing plant. Dry commissioning, focused on testing equipment and systems, has progressed successfully, and wet commissioning is under way.

Meeka expects its first gold pour from gravity circuits later in June, while first gold sales and associated cash flow are expected in early July. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Meeka Metals, tel +61 8 6388 2700 or email info@meekagold.com.au.