SSR Mining has filed an updated Technical Report Summary for its Marigold Complex in Nevada, which includes the Marigold mine and the Buffalo Valley deposit. The report outlines a significant 73% increase in contained gold reserves, extending the Life of Mine (LOM) to 20 years and establishing a strong economic outlook with a projected after-tax Net Present Value (NPV) of $3.33 billion.
Key Details
- Mineral Reserves: Total Proven and Probable Mineral Reserves are estimated at 4.63 million ounces of gold, a 73% increase from previous estimates, based on a $2,200/oz gold price assumption.
- Economic Outlook: The project projects an after-tax NPV of $3.33 billion (at a 5% discount rate) and an All-in Sustaining Cost (AISC) of $2,062 per ounce over the LOM.
- Life of Mine & Production: The mine life is extended to 20 years, including 15 years of active mining and 5 years of heap leach processing. Average annual gold production during the active mining period is forecast to be 196,000 ounces.
- Capital & Operations: Total LOM capital expenditure is estimated at $1.385 billion, including $542 million for growth projects. The plan involves expanding the mining rate to an average of 380,000 tonnes per day, supported by a major fleet expansion.