Bulk mining. Money for jam. Can't get any simpler.
Marigold technical report dated 2017. Marigold uses heap leach, Nova are intending a more modern approach.
The cost of mining for strip ratio at 1.5:1 is USD $1.13 per tonne averaged for waste and ore (all material moved). Figures based on year 1 below = 2018.
The total cost per tonne (including mining, maintenance, processing, admin) averages just USD $2.24 per tonne of rock moved (averaged across all waste and ore).
So maintenance + processing + admin cost averaged across all tonnes moved = USD $2.24 - USD $1.13 = USD $1.11.
Meanwhile at USD $1,300 gold, the revenue per tonne (averaged for waste and ore) is USD $3.69 per tonne.
Reserve is 3 Moz @ 0.46 g/t. Cut-off is 0.065 g/t.
Ann: Company Presentation, page-85
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