Goldgroup Reports Positive PEA for Caballo Blanco, Yet Price Slips Below Year Lows

By Midnight Trader,  April 12, 2012, 02:38:36 PM EDT

Goldgroup Mining Inc. (GGA.TO) has slipped 9% to 74, which is below existing year lows of 80 cents, despite announcing initial positive results from a Preliminary Economic Assessment for its 100%-owned Caballo Blanco gold project.

Based on the PEA, the Caballo Blanco project is expected to generate a 66.4% pre-tax internal rate of return and a US$283.8 million pre-tax net present value at a 5% discount rate, over an approximate 7.5-year mine life and produce 687,000 ounces of gold and 1.3 million ounces of silver, based on the current mineable resource determined from the Whittle optimization model.

GGA has hit a low of 73 cents earlier. Volume traded is over 1.7 million shares.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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