A pre-feasibility study at the Rebecca-Roe gold project in Western Australia has demonstrated strong economic returns for owner Ramelius Resources.
Highlights from the study included an after-tax net present value of $332 million at a base case of $3500 per ounce, and an undiscounted cash flow, before tax, of $688 million.
The maiden ore reserve for the site’s open pit stands at 20 million tonnes, with the board targeting conversion to ore reserve by July 2025.
“The Rebecca-Roe project will provide us with a new mining hub in an under-explored mining region, which we plan to take advantage of with our proven hub-and-spoke model,” Ramelius managing director Mark Zeptner said.
“The long-term outlook positions the Rebecca-Roe gold project as an able replacement for Edna May, which when combined with the Mt Magnet operation, establishes a consolidated profile from the 2025–26 financial year of average annual gold production over 220,000 ounces per annum.
“It is also important to note that this is before any upgrades to the Mt Magnet mine plan that are currently the subject of separate studies primarily focussed on the Eridanus deposit.”
Ramelius recently completed drilling at Roe, targeting the underground resource. On the basis of the strong pre-feasibility study results, the Ramelous board has now approved commencement of a definitive feasibility study.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
