Phoenix Gold (ASX:PXG) is preparing to reveal details of a proposed strategic relationship.
Recently an Independent Heap Leach Definitive Feasibility Study (DFS) was completed on core projects at Castle Hill and nearby satellite pits.
The projects are located on the highly prospective Zuleika and Kunanalling shear zones in the heart of the Western Australian Goldfields, less than 50 kilometres from the regional mining centre of Kalgoorlie.
The DFS showed total pre-tax net cash flow (after capex) of A$70 million over the initial 7 year mine life.
This reaffirms heap leaching as a key part of Phoenix Gold’s staged development strategy combining wholly-owned and joint venture mining projects including Norton Gold Fields (ASX:NGF).
The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.
The halt will remain in place until the opening of trade on Thursday 30th April 2015, or earlier if an announcement is made to the market.
