The share price of ASX-listed gold miner Dacian Gold increased by nearly 22% on Wednesday following an updated life-of-mine (LOM) review for its Mt Morgans project, which underpinned a more than one-million ounce production profile.
The updated LOM plan estimated an average annual production of 170 000 oz over the first five years of operation, at an all-in cost of between A$1 340/oz and A$1 440/oz, with total gold production over the eight-year mine life expected to reach 1.1-million ounces, at an all-in cost of A$1 280/oz to A$1 380/oz.