Rox is progressing a number of studies on its Youanmi Gold Project in WA, with the aim of producing and releasing a Final Feasibility Study for the potential restart of mining at Youanmi.
A feasibility study is, at its most basic, a detailed evaluation of the mining project that will set the stage for a Final Investment Decision. Indeed, such a study is often described as “bankable’’ because it includes a level of detail sufficient for the company to get project financing from banks and other investors.
The feasibility study should give confidence that the Mineral Resource of a project can be mined economically and will ultimately produce a profit over the life of the project.
There is no international agreement on the terminology for each stage of a feasibility study – from initial scoping studies, to prefeasibility studies and final feasibilities – and there is no agreed standard for required quality or accuracy.
The process of completing mining studies is iterative, with the studies increasing in complexity and accuracy until the economic assessment of the mining project is considered adequate to justify investment.
At Rox, we are progressing a number of studies – in parallel with ongoing drilling – including assessing Youanmi metallurgy, hydrology as well as pit designs, mining schedule and capital expenditure requirements.
We are in a fortunate position that, as a previously operating mine with an existing resource, there is a wealth of existing data (and existing infrastructure and mining leases) that we can use as a base as we move forward to completing more complex final studies.
Exploration and mine development can be an uncertain business. It is our intention, through the development of the Final Feasibility Plan, to demonstrate through a comprehensive technical and economic study of our proposed mining operation a level of confidence to justify the re-commencement of mining at the historic Youanmi Gold Project.