Stock Market News
Highland Gold doubles Russian project lifespan with new study
Jersey-based firm Highland Gold Mining announced on Tuesday that a definitive feasibility study completed by international consultancy group Fluor showed that its Kekura asset in Far Eastern Russia had an estimated 16-year lifespan.
Kekura's sequential and combined open-pit and underground operations were tapped to contain gold reserves of 2m ounces at a grade of 7g/t in addition to having its original eight-year lifespan from an earlier preliminary feasibility study doubled.
The project was given an expected mill head grade of 7.49g/t for the first nine years of plant operation, and 5.58g/t over the final seven years, with average annual gold production from Kekura being set at of 172,000 ounces for the first eight years of operation and 46,000 ounces for the final eight years.
Highland said Kekura would have a post-tax net present value of $311m and an internal rate of return of 38%, excluding historical costs and based on a gold price of $1,250 per ounce.
As of 1200 GMT, shares had gained 0.41% to 146.60p.
Kekura's sequential and combined open-pit and underground operations were tapped to contain gold reserves of 2m ounces at a grade of 7g/t in addition to having its original eight-year lifespan from an earlier preliminary feasibility study doubled.
The project was given an expected mill head grade of 7.49g/t for the first nine years of plant operation, and 5.58g/t over the final seven years, with average annual gold production from Kekura being set at of 172,000 ounces for the first eight years of operation and 46,000 ounces for the final eight years.
Highland said Kekura would have a post-tax net present value of $311m and an internal rate of return of 38%, excluding historical costs and based on a gold price of $1,250 per ounce.
As of 1200 GMT, shares had gained 0.41% to 146.60p.
Related share prices |
---|
Highland Gold Mining Ltd. (HGM) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price