Volta Resources Announces Results of Kiaka Gold Pre-Feasibility Study

By Midnight Trader,  May 03, 2012, 09:44:48 AM EDT

Volta Resources Inc. (VTR.TO) today announced the results of a pre-feasibilty study carried out on the Kiaka Gold Project in southern Burkina Faso.

Highlights

Proven and Probable Mineral Reserves of 126.08 million tonnes at a diluted grade of 0.96 g/t Au for 3.89 million ounces, representing a conversion from Measured & Indicated Mineral Resources to Proven and Probable Mineral Reserves of 96%.

Annual production of 340,000 ounces of gold per year over a life of mine of 10.3 years.

Initial capital costs of 609.7 million

Average on-site operating costs of US$ 671/ounce.

Pre-tax NPV of 548 million, assuming a 1,372 per ounce gold price and an 8% discount rate

Pre-tax IRR of 23.3% with a 4.3 year payback on initial capital.




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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