By Deborah Bacal
Proactive Investors
Goldrock Mines Corp. has moved one step closer to its goal of becoming a gold producer by unveiling results of a feasibility study for its Lindero project in Argentina, which the company says boast “modest capital requirements” and attractive cash costs.
The study, completed by a trio of consulting firms, shows an after-tax net present value, at a 5 per cent discount rate, of US$215 million, and an after-tax internal rate of return (IRR) of 33.4 per cent, using a gold price of $1,400 an ounce. The financials indicate average annual after tax operating cash flow of $57.4 million.
Capital costs were pegged at US$155.4 million, inclusive of 3 months of working capital, with additional sustaining capital of $2.67 million. The payback period was projected at just two years.