Both the PEA and the PFS were unrealistic: This is a Bankable FS.
posted on
Aug 15, 2012 10:03AM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
Feasibility Study vs. Prefeasibility Study:
On July 22, 2010, the Company released the results of a Prefeasibility Study (PFS) on the Yellowknife Gold Project. The following table summarizes the key differences between that report and the recently completed and more detailed FS.
---------------------------------------------------------------------------- Item PFS FS Difference (%) Diff ---------------------------------------------------------------------------- Resources -------------------------------------- Measured + Indicated Tonnes (000's) 17,446 27,115 9,669 55.42% Au Oz (000's) 1,947 1,715 -232 -11.92% Grade (g/T) 3.47 1.97 -1.50 Inferred Tonnes (000's) 2,545 5,774 3,229 126.88% Au Oz (000's) 269 487 218 81.04% Grade (g/T) 3.29 2.62 -0.67 Reserves -------------------------------------- Proven & Probable Tonnes (000's) 7,558 20,433 12,875 170.35% Au Oz (000's) 811 1,334 523 64.45% Grade (g/T) 3.34 2.03 -1.31 Conversion of M&I Resources to P&P Reserves 41.7% 77.8% 36.1% 86.69% ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Mine Life (years) 7 15 8 114.29% Nominal Plant Throughput (tpd) 3000 4000 1000 33.33% CAPEX ($ 000's) $173,640 $192,955 $19,315 11.12% OPEX ($/processed tonne) Open Pit Mining 32.77 17.72 -15.05 -45.93% Underground Mining 49.00 5.54 -43.46 -88.69% Rehandle N/A 0.81 0.81 N/A Processing 12.37 21.30 8.93 72.22% G&A 3.96 4.37 0.41 10.35% ------------------------------------------------------------------------ Total OPEX 59.09 49.74 -9.35 -15.82% NPV ($000's, @ 36 Mnth Average) $71,340 $215,724 $144,384 202.39% IRR (%) 16.20% 20.00% 3.80% 23.46%