Update in the paper today about Doray, they are looking at debt package to fund construction, with our AISC roughly half of theirs, if they manage to get funding up it should be a good pointer for CRB being in good shape for easy access to funding post PFS;
Doray managing director Allan Kelly said yesterday he hopes to finalise a debt package to fund construction of the mine within months and have Deflector producing gold by the middle of next year.
The mine's $88 million capital cost is at least $20 million more than Mutiny Gold's $67.6 million estimate from August year.
Doray had also increased the size of the processing plant at the mine slightly, Mr Kelly said, to reflect its expectation it would need to mill more waste ore than previously thought.
But he said the project was still expected to be a high-grade, low-cost operation, with all-insustaining costs of about $787 an ounce, after factoring in copper credits.
Deflector will produce about 61,000oz of gold a year, along with 2500 tonnes of copper - the equivalent of 74,500oz gold.
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