Loncor Gold releases Preliminary Economic Assessment on Adumbi Gold Deposit
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Loncor Gold releases Preliminary Economic Assessment on Adumbi Gold Deposit
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Loncor Gold CEO John Barker joined Steve Darling from Proactive to share news the company has announced the results of the Preliminary Economic Assessment for the Adumbi gold deposit in the Congo. Barker telling Proactive the PEA includes a Pre-tax NPV of US$895 million and post-tax NPV of US$624 million for HEP Hybrid case at a US$1,600 gold price. The average annual production of 303,000 ounces of gold over a 10.3 year life of mine within proposed pit shell Barker also saying the average total cash costs of US$852 per ounce over life of mine and AISC of US$950 per ounce for HEP Hybrid case. The company plans to continue work to increase mineral resources, gold production, reduce operating costs and further improve the economics of the project.