EXU 0.00% 17.0¢ explaurum limited

DIRECTORS' REPORT (Continued) REVIEW AND RESULTS OF OPERATIONS...

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    DIRECTORS' REPORT (Continued) REVIEW AND RESULTS OF OPERATIONS (Continued) Exploration and Development • A new Mineral Resource estimate for the Tampia Gold Project based on the new resource drilling, reported and classified in accordance with the JORC Code (2012), was released being 11.3 million tonnes at 1.91 g/t Au for 695,500 ounces of gold (0.5 g/t Au cut off), more than double the previous 310,000 oz estimate. • A successful Scoping Study was completed indicating excellent economics based on a standalone mining and processing operation treating 1.5Mtpa. Strong financial metrics include low cost/ high margin (AISC A$888), initial capital A$95M, and low technical risk for a project minelife of six years with a 1.5 year payback. • A Feasibility Study commenced in July 2017 with detailed metallurgy, process design, power supply, mining and geotechnical, groundwater and environmental studies progressing positively. The proposed mining operation will be based in Narembeen with the establishment of camp and catering facilities. The Sudy is expected to be final
 
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