UPDATE: Northern Vertex Announces a PEA of the Moss Mine Gold-Silver Project, NW Arizona; Shares Gain 1% Late Morning
Northern Vertex Mining Corp. (NEE.V) today announced the results of a PEA for its Moss Mine Gold-Silver Project, Mohave County Arizona, USA. Northern Vertex has the right to earn a 70% interest in the Moss Gold-Silver Property from Patriot Gold Corp. by spending $8 million and preparing a feasibility study. The Company has spent $5.6 million to date.
Mine life 5 yrs, 5000 tpd, 42,000 AuEq oz/yr
Pre-tax IRR of 117.9%
Pre-tax payback of 15 months
Pre-tax NPV @5% $110 million
Capital expenditures $26.6 million
Capital / average annual oz AuEq production $633/oz
Cash Costs/oz AuEq $490/oz
Northern Vertex is up 1 cent to $1.03 late morning.
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