Bardoc re-rate underway as development looms

Bardoc Gold is putting the finishing touches on the definitive feasibility study for its namesake gold project near Kalgoorlie (reports MiningNews).
11th February 2021
Resources Rising Stars

Bardoc Gold is putting the finishing touches on the definitive feasibility study for its namesake gold project near Kalgoorlie (reports MiningNews).

The DFS for the 3 million ounce project will be released in March, with capital costs expected to be about A$140 million.

Bardoc is targeting production of over 135,000 ounces of gold per annum over about eight years at all-in sustaining costs of $1220 an ounce.

"There are significant margins to be made at the project," CEO Rob Ryan told the Resources Rising Stars Summer Series yesterday.

While the DFS is a catalyst, Ryan said the company had achieved several key de-risking milestones in 2020.

One was the recent offtake agreement signed with MRI Trading.

Bardoc will sell about half of its production as concentrate to MRI, with the remainder to be sold as dore.

Another achievement was the $24 million institutional raising in July 2020.

"The arrival of some key institutions on the register has given us the confidence to push ahead and deliver this project," Ryan said.

Bardoc has held initial financing discussions, which will ramp up once the DFS is released.

Ryan expects the company to be able to achieve a traditional debt to equity ratio of 65:35.

The company hopes to have financing in place by July for a final investment decision, and start construction in August/September.

First gold is targeted for the September quarter of 2022.

Read more at https://www.miningnews.net/events-coverage/news/1404347/bardoc-re-rate-underway-as-development-looms

 

 

Subscribe to the RRS Weekly Wrap

© 2021 Resources Rising Stars All Rights Reserved