Homestake Mining Company provides update on Ruby Hill gold project
What happened
Homestake Mining Company owns the Ruby Hill property in northeastern Nevada, USA, which includes the Archimedes underground project. The company detailed the results of the preliminary economic assessment for the Mineral Point Project, which outlines a 17-year mine life following ramp-up. The project is expected to produce approximately 280,000 ounces of gold equivalent annually after ramp-up.
From prnewswire.com
Why it matters
The assessment details included a base case after-tax net present value of $614 million and an internal rate of return of 12% under specific gold and silver prices. The company also noted that initial drill results showed grades ranging from 0.36 g/t Au to 1.70 g/t Au.
From prnewswire.com
Who's involved
- Homestake Mining CompanyOwner of the Ruby Hill property
- Tyler HillVP Geology for Homestake Mining Company
- projectThe Ruby Hill property under company ownership
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Homestake Mining CompanySpeculative
The company could see its asset value increase based on the project's successful ramp-up and production targets.
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The entities involved
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Homestake Mining Company
company
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project
collaborative enterprise, frequently involving research or design, that is carefully planned to achieve a particular aim