Primary Gold (ASX:PGO) has near term mining and cash flow potential from its high grade Toms Gully gold mine in the Northern Territory.
Proactive Investors has secured managing director Clay Gordon to present to investors at the upcoming "Melbourne Investor Luncheon” on Tuesday 24th March 2015, and the "Sydney Investor Luncheon" on Wednesday 25th March 2015.
REGISTER by clicking on the city below for additional details:
Melbourne OR Sydney. Otherwise call (02) 9299 5001(02) 9299 5001 and ask for John Phillips.
The company is currently in advanced discussions with multiple groups regrading project finance for Toms Gully.
The mine produced 115,000 ounces of gold at 8.2 grams per tonne between 1988 and 2008 and has an existing 250,000 tonne per annum processing plant.
There is potential to recover 144,000 ounces of gold at C1 cash costs of between A$640 and A$650 per ounce to generate cash flow of A$47 million and A$52 million at a gold price of A$1,550 per ounce.
Primary Gold has a 25 year mining tenure over Toms Gully, which is located just 100 kilometres from Darwin.
Toms Gully has an overall Reserve of 775,000 tonnes at 6.9 grams per tonnes for 175,000 ounces of gold. The broader Mt Bundy project has resources of 1.43 million ounces of gold.
There is potential to increase mine life beyond the current three years.
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