Dalradian has released a positive Feasibility Study on the Curraghinalt Project and
an updated FS is in progress.

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Dalradian issued a Feasibility Study (“FS”) in January 2017 that outlined the positive economics of the Curraghinalt project. This historic FS, which has been superseded by the new Mineral Resource Statement, included a Net Present Value at a 5% discount of $301 million (CDN$402 million) after tax (rate) and Internal Rate of Return of 24.4% after tax, at an assumed gold price of $1,250/ounce. The estimated initial capital cost, including contingency, was $192.0 million with payback of 4.0 years, and LOM sustaining capital costs of $165.1 million with a mine life of just over 10 years at an average annual production rate of 130,000 ounces of gold.

The Company is now focused on completing an updated FS to improve the economics and lengthen the mine life.