Bardoc Gold Limited (Spitfire Materials)
Bardoc Gold Limited (Spitfire Materials)
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Soaring costs and tightening labour markets have led West Australian explorer Bardoc Gold to defer indefinitely a final investment decision and end all pre-development and project funding expenditure on its 100%-owned Bardoc gold project.
West Australian explorer Bardoc Gold has outlined a cashflow optimisation study that could see it become a 150,000ozpa producer by year 3 of the development of its 100%-owned namesake gold project.
Bardoc’s March 2021 DFS for the project 40km N of Kalgoorlie outlined average production of 135,760ozpa gold over 8.2 years, but it says the new, operationally simpler plan brings forward the start of mining at the cornerstone Aphrodite deposit and delivers an additional 80,000oz over the first five years.
West Australian explorer Bardoc Gold has moved a step closer to development of its 100%-owned namesake gold project 40km N of Kalgoorlie, naming GR Engineering Services as preferred EPC tenderer for construction of its planned 2.1Mtpa CIL plant and flotation circuit.
The companies will work together to complete optimisation work as Bardoc moves towards project financing and a final investment decision, expected by end-2021.
A positive definitive feasibility study puts the Bardoc project on track to pour first gold in the December 2022 quarter, enabling West Australian explorer Bardoc Gold to make the transition to mid-tier producer and significant new gold sector player in the North Kalgoorlie region.
Explorer Bardoc Gold is confident it’s on a clear trajectory to develop a new gold project of scale over the next two years after completing the DFS for its 100%-owned namesake project in Western Australia’s Eastern Goldfields 40km N of Kalgoorlie.
The DFS outlines average sales of 135,760ozpa gold at AISC of $A1,188/oz over 8.2 years from a probable openpit and underground ore reserve of 1,007,000oz (15.9Mt @ 2g/t).
Forecast pre-production capital cost is $177M, with 32-month payback, pre-tax NPV6% of $479M and IRR of 41%.
West Australian explorer Bardoc Gold has taken another step towards financing and developing its flagship project in WA’s Eastern Goldfields with the signing of a binding offtake agreement with global minerals trader MRI Trading for its gold concentrates.
The gold concentrates account for about 50% of the Bardoc mine’s life of mine production, expected to commence at Year 3. The balance of the production will be gold doré.
West Australian explorer Bardoc Gold is building confidence in its namesake gold project 40km N of Kalgoorlie with the posting of a project-wide resource upgrade to 3.03Moz (48.9Moz @ 1.9g/t). It includes 1.95Moz measured and indicated.
CEO Robert Ryan says the upgrade increases confidence in its proposed development of a 135,000ozpa stand-alone gold mining and processing operation ahead of a DFS due in the March 2021 qtr.
Ryan says Bardoc expects to complete an off-take agreement by end-2020.
Bardoc Gold’s strongly supported $A24M capital raising is expected to see the company’s transition from explorer to producer from its flagship 3.02Moz Bardoc Gold Project, 40km N of Kalgoorlie in Western Australia, over the next 12-18 months.
West Australian explorer Bardoc Gold is targeting a Sept 2021 qtr commencement of construction and mining at its 100%-owned, 3Moz namesake gold project 40km N of Kalgoorlie in WA’s Eastern Goldfields.
The company’s timetable for its proposed gold production hub targets delivery of a mineral resource in Q3 2020 and delivery of its DFS and final permitting in the March 2021 qtr.
Strong PFS results highlight Bardoc Gold’s opportunity to develop a substantial new mid-tier Australian gold project with outstanding economics and strong financial returns just north of the world-class Kalgoorlie mining hub.