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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (161718)	9/9/2023 5:06:36 AM
From: Goose94	Read Replies (1) \| Respond to of 202936

First Mining Gold (FF-T) a preliminary economic assessment of its Duparquet project in the Abitibi district of Quebec. The dream sheet is based upon a current resource of 69.2 million tonnes measured and indicated at 1.55 grams of gold per tonne and 37.4 million tonnes inferred at 1.36 grams per tonne, just over four million ounces of gold contained in the Duparquet deposit. The plan is not for the weak of heart or light of pocketbook, as the 15,000-tonne-per-day operation carries a capital cost of over $700-million. The 11-year mine is projected to average 233,000 ounces of gold per year, enough to support an internal rate of return of 18 per cent and a discounted net present value of $588-million after taxes. The high capital cost, the five-year payback period and the modest rate of return all gave investors pause. Still, the dream sheet nevertheless allowed Mr. Wilton, chief executive officer, to cheer the "robust economic potential" of the Duparquet project, as he pointed to the hefty production profile, the attractive cost profile and the "strategic location" of the deposit. And there is more to Duparquet than just mining for a profit, beams Mr. Wilton. Not only does he applaud his plan as a "unique opportunity to address the environmental legacy issues" left behind by the old mining operations; he sees it as an "important economic development opportunity for the local and indigenous communities" in the area. And so, he and his First Mining crew are eager to carry on work with the bureaucrats, the regulators, the local politicians and residents to "advance this parallel track of environmental stewardship and economic development." But back to the nasty old matter of mining for a profit. While Mr. Wilton deems Duparquet to be "one of the most meaningful development projects in Canada" based on the new study, he is already looking ahead for project enhancement opportunities. An obvious one is the gold left out of the study: First Mining has about 14 million tonnes inferred in the nearby Duquesne and Pitt deposits, rock grading about 2.3 grams per tonne that contains another 1.05 million ounces of gold. Beyond that, Mr. Wilton and his crew plan both exploration and infill drilling at the project to upgrade and expand the existing resource estimates while pushing ahead with engineering, metallurgical and other work to improve the plan and pad the bottom line. The promise of financial reward down the road will go some way to convincing the regulators, bureaucrats, politicians and residents to support the plan -- one doggedly advanced by promoters and investors. Business Reporter