News: Pacific Niugini to reveal financing details for Nicolsons

Near-term gold producer Pacific Niugini (ASX:PNR) has been granted a trading halt by the Australian Stock Exchange, pending details financing for the Nicolsons Project.

PNR could pour the first gold from the Nicolsons mine in 2015, with total pre-production Capex estimated at just A$10.7 million.

NPV and IRR metrics are impressive and highlight how robust the project economics are for Nicolsons.

Total sustaining cost is estimated at A$854 per ounce while capital P&E cost is expected to be about A$107 per ounce.

Last month PNR moved to 65% ownership of the Halls Creek Project in Western Australia.

The halt will last until the opening of trade on Monday 8th December 2014, or earlier if an announcement is made to the market.