2021 is set to be a transformational year for Bardoc Gold, with the release of a highly-successful Definitive Feasibility Study for the Company’s flagship 100%-owned Bardoc Gold Project in March confirming the project’s credentials as one of the best undeveloped gold projects in the Eastern Goldfields region of Western Australia.
The DFS results were underpinned by an updated Ore Reserve of +1Moz of contained gold, delivering average gold production of 136,000ozpa at a highly competitive all-in cost of A$1,188/oz over an initial 8- year mine life.
At an assumed base case gold price of A$2,250/oz, this will generate average free cash-flow of $113 million per year post-construction, with forecast life-of-mine free cash-flow of $740 million, a pre-tax NPV6% of A$479 million and Internal Rate of Return of 41 per cent – compelling metrics by any measure. The project also has relatively low capital intensity, with a forecast pre-production capital cost of A$177 million and a 32-month payback period from production commencement.
Based on the strength of these financial results, the board has given the go-ahead to progress project financing, and Bardoc is now actively engaging with banks and other financiers with the aim of making a Final Investment Decision in Q3 2021 – which would position the Company to commence full commercial construction in Q4 2021 and pour first gold in Q4 2022.
Importantly, Bardoc also sees substantial upside to the DFS, with highly-encouraging exploration results continuing to be delivered across the project.
The site visit is being hosted by Bardoc Gold CEO Robert Ryan and Exploration Manager Bradley Toms and will provide a detailed overview of the Company’s exploration and development strategy for this exciting emerging gold project.
Safety notes:
• Inductions will be completed on the bus.
• Please ensure you are wearing long pants, long sleeves and enclosed shoes.
