() managing director Rob Thomson and chairman Bill Guy update Proactive Investors on the company's recently completed Theta Hill scoping study which supports an open cut gold mine.
The scoping study indicates a net present value (NPV) for the proposed open-pit gold mine of US$152 million.
The 7.6-year mine life operation has an estimated capital cost of US$16 million and will average 67,000 ounces of gold production per year.
"We're now drilling for reserves to get the impetus for production," says Thomson.
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